Commerce Secretary Howard Lutnick has confirmed that Trump’s 90-day tariff pause is coming to an end.
End of Tariff Pause
Commerce Secretary Howard Lutnick confirmed that the 90-day tariff pause initiated by Trump will end in early July. He stated, 'Tariffs are not going away,' and full rates will apply unless specific trade agreements are reached.
Increase in Steel and Aluminum Tariffs
Trump has increased tariffs on steel and aluminum from 25% to 50%, primarily targeting producers from China, India, and Japan. This decision will take effect on Wednesday and aims to rebuild American manufacturing.
Worsening Trade Relations with China
Trade relations with China remain tense as both sides seek to arrange a direct conversation between Trump and Chinese President Xi Jinping. U.S. officials emphasize that tariffs are important not only for economic considerations but also for national security.
The Trump administration's approach to tariffs underscores its commitment to a tougher trade policy that affects various countries and could lead to further economic ramifications.
