U.S. to Roll Out Dozens of Trade Deals with 10% Baseline Tariff, Maintains Significant Tariffs on China Amid Talks

U.S. Commerce Secretary Howard Lutnick has announced plans to roll out dozens of trade deals over the next month, with a particular focus on securing a significant trade agreement with a major Asian country. Lutnick emphasized that the U.S. is aiming for a 10% tariff as a baseline for these deals, indicating that this is the best rate countries can expect when negotiating with the U.S. Lutnick also addressed the ongoing trade tensions with China, stating there is 'no chance' that tariffs on China will be paused following upcoming talks. He affirmed that President Donald Trump intends to maintain 'significant' tariffs on China, with a current baseline of 10%. This stance comes despite recent discussions about potentially reducing tariffs, with Trump having mentioned an 80% tariff as a possibility. Lutnick also mentioned that there will be dozens of talks with China, though he is unsure when the final talks will take place. In a White House press briefing, Press Secretary Karoline Leavitt clarified that Trump will not unilaterally lower tariffs on China. She noted that the 80% tariff figure was merely a number Trump had 'thrown out there,' and emphasized the need for concessions from China before any tariff adjustments are considered. Lutnick also mentioned that trade deals with Japan and South Korea may take significantly more time to finalize compared to the framework agreement with the UK, due to the complexity of negotiations involving 7,000 lines of tariff modifications with India. He highlighted that initial deals could serve as templates for other nations, and that de-escalation and bringing rates down is the goal for China, with Bessent's involvement in these talks.