Commerce Secretary Howard Lutnick Says No Chance Trump Backs Off On Global Tariffs | EUROtoday

As shares continued to tumble within the wake of President Donald Trump’s sweeping new tariffs, Commerce Secretary Howard Lutnick informed CNN’s Pamela Brown there may be little probability the administration reconsiders its already extensively condemned commerce coverage.

“I don’t think there’s any chance they’re going to — that President Trump’s going to back off his tariffs. This is the reordering of global trade, right? That’s what’s going to happen,” Lutnick mentioned.

Pressed for extra, he conceded that negotiations between the U.S. and particular person nations weren’t out of the query.

“I want to just be very clear here,” Brown informed the commerce secretary, “Because allies and adversaries alike are looking at everything you’re saying right now about whether there’s room to negotiate on these tariffs before they announce what they’re going to do.”

“What I hear from you is that there isn’t room for negotiation. Is that right?” she requested.

Lutnick responded to say that “countries can fix their tariffs [and] their non-tariff trade barriers, which are much, much rougher.”

“America’s got to stop being exploited,” Lutnick mentioned. “And you’re going to see America prosper. And then, and only then, will Donald Trump make a deal with each country, when they have really, really changed their ways. Then they go sit with him.”

Trump’s tariffs begin at 10% for imports from international locations together with the United Kingdom and Brazil, and go up from there. Vietnam, as an example, has a 46% tariff set and Cambodia a 49% tariff. They go into impact April 5.