US-China Tariff Break may be Extended: Commerce Secretary

Commerce Secretary Howard Lutnick said he is optimistic that a soon-to-expire tariff truce with China will be extended for three more months.

“It feels likely that they're going to come to an agreement and extend that for another 90 days,” Lutnick said in an interview on Fox Business Network.

He said the final decision was up to President Donald Trump and his trade team, including Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. The U.S. and China agreed in May to de-escalate a tit-for-tat trade war to allow more time for talks. That 90-day truce expires on Tuesday.

Lutnick also said it was still possible that Trump could impose punitive tariffs on China because of its continued purchases of Russian oil, similar to Trump’s announcement this week that he was doubling his tariff on India to 50 percent for that reason.

“I think the president said on Friday, everything is on the table. You know, he thinks of his role as the peacemaker in the world and the creator of opportunity for America, and he's going to use all the tools in his toolbox. ... And he hasn't ruled anything out,” Lutnick said.