Secretary Lutnick Discusses Trade Negotiations and Tariff Impacts

00:00 Introduction to Negotiations

Dana Bash interviews Secretary Lutnick about President Trump's recent statements regarding trade negotiations with China, highlighting positive feelings from the talks in Switzerland.

02:30 Tariff Impacts on the Economy

Lutnick discusses the implications of tariffs, stating that they are necessary to address the $1.2 trillion trade deficit with China. He emphasizes that the tariffs aim to create balanced trade, although they may temporarily affect American consumers and jobs.

05:15 Short-term Challenges for Consumers

Concerns are raised about the potential short-term effects of tariffs on American consumers, particularly regarding the availability and prices of goods during the summer.

08:00 Export Opportunities

Lutnick explains the administration's focus on opening global markets for American exports, particularly following the recent UK trade agreement, which aims to increase opportunities for U.S. businesses.

10:00 Future of Tariffs

The Secretary confirms that a 10% baseline tariff will remain in place for imports from the UK and outlines the approach to other countries, indicating flexibility in negotiations while maintaining a minimum tariff level.

12:30 Conclusion

Lutnick expresses optimism about the future of American exports and trade relations, suggesting that the administration's policies will ultimately benefit U.S. businesses and consumers.