Howard Lutnick

Lutnick: 10% Tariff Base Isn’t Up for Negotiation

On Thursday’s broadcast of Bloomberg’s “Balance of Power,” Commerce Secretary Howard Lutnick said that the message from the agreement between the United States and U.K. is that the 10% base tariff rate isn’t for negotiation and “reciprocal tariffs, if you think about it, [are] how open is your economy to our exports? How fair is it to our exports? What kind of trade deficit do you do? And that sets that line. So, 10% is the bottom line for that.”

Tariffs Gold Card - Howard Lutnick on 3/19/2025 "Jesse Watters Primetime"