(Reuters) -U.S. Commerce Secretary Howard Lutnick said on Wednesday that the 55% tariffs imposed by the United States on China will not change after a trade deal was struck between the two countries.
A U.S.-China trade deal is “done,” U.S. President Donald Trump said earlier in the day, hours after negotiators from Washington and Beijing agreed on a framework to get a fragile trade truce back on track.
“You can definitely say that,” Lutnick told CNBC in an interview when asked if the tariff levels on China would not change.
The trade deal, which needs to signed by both Trump and Chinese President Xi Jinping, would remove Chinese export restrictions on rare earth minerals and other critical industrial components.
Lutnick also said China has agreed to examine how it can do more business with the U.S. He said that trade deals with other countries can be expected starting next week.
(Reporting by Bhargav Acharya; editing by Rami Ayyub)
