U.S. Secretary of Commerce Howard Lutnick this morning announced that he has initialed a new trade agreement. Now, it sits on an undisclosed country’s leaders’ desk waiting to be approved. He expressed those views in an interview with CNBC’s Brian Sullivan. The conversation held on March 13, 2025, at the future construction site of a semiconductor fabrication plant in Arizona. This announcement comes less than a month after President Donald Trump dramatically increased tariffs. From the European Union to Argentina, these shifts pose challenges and opportunities for countries worldwide.
The Trump administration’s tariff policy aims to boost U.S. manufacturing, and Lutnick’s remarks underscore this objective. He expressed confidence in the potential for new trade agreements, stating that many countries have recently reached out regarding negotiations. He stressed that though talks continue, no deals have been signed to date.
Lutnick’s portfolio is to focus the firms trade portfolio, beyond China, where Treasury Secretary Scott Bessent is maintaining lead responsibility for negotiations with Beijing. He underscored what a big deal it is to get these kind of agreements with countries like Japan, South Korea and India. These countries have emerged as top contenders for next deals.
Currently, all these tariffs are suspended for 90 days. At the same time, federal tariffs on goods from China have risen, sometimes over 100%. This step-up in hostilities has had rapid repercussions for the economic markets. Lutnick’s hyperbolic comments raised spirits on Wall Street. In turn, stock prices skyrocketed, recovering from recent lows due to the original tariff announcements.
“I have a deal done, done, done, done, but I need to wait for their prime minister and their parliament to give its approval, which I expect shortly.” – Howard Lutnick
Lutnick’s comments indicate a cautious optimism as stakeholders await further developments in international trade relations. Our U.S. manufacturers and the American economy as a whole have too much at stake to let this go. How these negotiations play out has the potential to dramatically shift market dynamics.
“My portfolio is the rest of the world’s trade deals.” – Howard Lutnick