Bloomberg Talks US Commerce Secretary Howard Lutnick Talks New US-China Trade Truce
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Jun 26, 2025 
US Commerce Secretary Howard Lutnick, known for his pivotal role in shaping trade policies, discusses the newly reached trade truce between the US and China. He highlights the urgency of pending legislative bills and their impact on the president's agenda. Lutnick also delves into monumental tax cut legislation and the complexities surrounding tariffs. Excitement simmers over upcoming trade deals, particularly with Europe, as Lutnick expresses newfound optimism in negotiations and the broader economic implications.
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Tariffs Operate Independently
- The tariff program is controlled by the presidency independently from the tax bill.
- Tariff revenues up to $30 billion per month are not included in the tax bill but contribute to U.S. finances.
US-China Trade Deal Sealed
- The US and China signed a trade deal recently after prior slow progress.
- Multiple trade deals are expected soon, with structured tariff arrangements implemented by July 9th.
Prepare for July 9 Trade Deadline
- The administration will categorize trade deals with the top countries and organize others accordingly.
- Countries without deals by July 9 will face set reciprocal tariffs but can continue negotiating.