Trump’s Tariffs Stand Firm as Commerce Secretary Lutnick Doubles Down on Trade War Relics

Another day, another confirmation that old policies die hard—especially when they’re propped up by political inertia. Commerce Secretary Howard Lutnick just rubber-stamped the continuation of Trump-era tariffs, because why let economic pragmatism disrupt a perfectly good status quo?

Wall Street shrugs while Main Street foots the bill—some things never change. Meanwhile, crypto markets keep innovating around these bureaucratic speed bumps, because decentralized finance doesn’t wait for permission.

Tariffs hit 60 countries after the pause ends in July

When the pause expires, imports from 60 countries will be affected. These are nations the WHITE House labeled the “worst offenders,” a group that includes Vietnam, South Africa, and the European Union.

The rates they’ll face vary, but most will jump significantly unless they agree to new trade terms that meet US demands. Trump has defended this aggressive stance as fair retaliation for what he calls decades of unfair trade policies.

The President’s advisers, including Howard, spent Sunday delivering the same message across several news networks. They stood behind the tariff plan despite lawsuits challenging its legality. Howard insisted the administration isn’t rushing into weak deals just to calm tensions.

“We could sign lots of deals now,” he said, “but we’re working to make them better. You’re going to see over the next couple of weeks, really, first-class deals for the American worker,” he added, without giving any specific examples or countries involved.

Meanwhile, on Friday, Trump doubled tariffs on steel and aluminum, pushing them from 25% to 50%. That increase will go into effect Wednesday, and it directly targets producers like China, India, and Japan—countries that have expanded their steel industries while US production has declined. Trump says the goal is to rebuild American manufacturing and reduce the country’s dependence on foreign materials.

US-China trade tensions worsen as talks stall

The biggest unresolved deal is with China. Both countries agreed to a limited trade truce in May, during talks held in Geneva. As part of that temporary arrangement, the US dropped tariffs on Chinese goods from 145% down to 30%, and China lowered its tariffs on US products from 125% to 10%.

But no full agreement has been reached, and officials on both sides are still trying to arrange a direct conversation between Trump and Chinese President Xi Jinping.

Treasury Secretary Scott Bessent spoke to CBS News and said, “What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does.” He added that it’s unclear whether the product delays are a glitch or a deliberate tactic. “We won’t know until that call happens.”

China, in turn, pushed back. On Friday, officials in Beijing demanded that Washington “immediately correct its erroneous actions” and stop “discriminatory restrictions” against Chinese companies. They also called on the US to uphold the outcomes of the Geneva negotiations.

Back in Washington, National Economic Council Director Kevin Hassett told ABC News that a call between Trump and Xi could happen soon. “Both sides have expressed a willingness to talk,” Kevin said. But he warned that the administration is ready if those talks don’t lead to results. “If we have cannons without cannonballs, then we can’t fight a war.”

He also said the tariffs aren’t just about money. “We have to have a steel industry that’s ready for American defence,” Kevin added, reinforcing the White House’s claim that this economic policy is tied to national security.

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