Latest news with #Lutnick
The Hill
an hour ago
- Business
- The Hill
Lutnick: ‘Rest assured, tariffs are not going away'
Commerce Secretary Howard Lutnick on Sunday was adamant that the Trump administration's aggressive use of tariffs was not going away in the aftermath of court rulings that blocked sweeping duties on imports. Lutnick appeared on 'Fox News Sunday' days after the U.S. Court of International Trade and a separate ruling by a federal judge in Washington, D.C., blocked tariffs issued under the International Emergency Economic Powers Act of 1977. 'What's going to happen is we're going to take that up to higher courts. The president's going to win like he always does,' Lutnick said. 'Rest assured, tariffs are not going away,' he continued. 'He has so many other authorities that even in the weird and unusual circumstance where this was taken away, we just bring on another or another or another. Congress has given this authority to the president, and he's going to use it.' A federal appeals court last week lifted a ruling against Trump from the Court of International Trade, though a second federal ruling blocking the tariffs remained in place. The administration has attacked the judges in the wake of the rulings and argued Trump is on firm legal footing. Those rulings apply to the broad 'reciprocal' tariffs Trump imposed in early April, which included a baseline 10 percent duty on imports and higher rates on dozens of countries. Those higher rates have since been lowered to 10 percent until early July to allow for negotiations. They also apply to tariffs Trump imposed on China, Mexico and Canada as part of his effort to crack down on fentanyl being brought into the country. The rulings do not apply to sector-based tariffs Trump has imposed under a different authority. The president has levied tariffs on automobile imports and steel and aluminum imports. Trump on Friday announced he was doubling steel and aluminum tariffs from 25 percent to 50 percent.
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Business Standard
2 hours ago
- Business
- Business Standard
US to move forward with tariffs despite court ruling, say Trump aides
US President Donald Trump 's senior economic officials said the administration would press forward with its tariff policies, even after a federal trade court declared many of them illegal. They asserted that alternative legal avenues remain available to enforce trade pressure, especially on China. Speaking to Fox News on Sunday, June 1, Commerce Secretary Howard Lutnick, insisted that tariffs were "not going away", and confirmed there were no current plans to extend a temporary 90-day suspension on the most severe tariffs, which are due to take effect in July. 'I don't see today that an extension is coming," Lutnick said, referring to Trump's so-called reciprocal tariffs, which were first introduced in April but quickly suspended. The US President's trade approach encountered a significant legal obstacle last week when a court ruled he had misapplied emergency economic powers in launching wide-ranging tariffs. While the decision threatened to derail a central part of Trump's trade strategy, an appeals court later granted a temporary reprieve, likely setting up a Supreme Court battle. Trump warns of US 'economic ruination' on court tariff ruling Trump did not respond well to the court ruling, saying that this type of ruling could weaken US trade leverage and cause 'economic ruination' by allowing other countries to exploit the American economy. "If the courts somehow rule against us on tariffs, which is not expected, that would allow other countries to hold our nation hostage with their anti-American tariffs that they would use against us. This would mean the economic ruination of the United States of America," Trump said. Trump admin's 'Plan B' tariff plans Last week, US officials also floated a possible 'Plan B' tariff plan that would involve invoking the rarely used provisions under the Trade Act of 1974. This allows the US government to impose temporary tariffs of up to 15 per cent for a short term period of up to 150 days to address trade imbalances. Although nothing has been announced by the Trump administration yet, the White House did confirm that alternatives were being considered. No new trade deals for US Despite ambitious early claims by the administration to forge '90 deals in 90 days', only a preliminary agreement with the UK has materialised. Yet Secretary Lutnick downplayed the impact of the legal ruling, saying it merely cost the administration "a week, maybe", and reiterated confidence that the US would ultimately secure favourable trade deals. US trade tensions flare with China Meanwhile, tensions with China flared again on May 30 as Trump accused Beijing of violating an agreement to reduce tariff levels reached last month in Geneva, Switzerland. The President responded by announcing the doubling of steel tariffs to 50 per cent, but did not clarify how Beijing had violated the agreement. China responded by denying the allegations and warned of reciprocal actions. Kevin Hassett, head of the White House National Economic Council, indicated on ABC's This Week that a conversation between Trump and Chinese President Xi Jinping could occur soon, although no meeting had yet been confirmed.
The Herald Scotland
8 hours ago
- Business
- The Herald Scotland
Trump tariffs are not going away amid legal battles: White House
Lutnick predicted Trump would win on appeal. But he also referenced other tariff authorities if the higher courts agree with the trade court that Trump can't invoke the International Emergency Economic Powers Act of 1977 to bypass Congress to issue the tariffs. Trade whiplash: Appeals Court allows Trump to keep tariffs while appeal plays out "Rest assured, tariffs are not going away," Lutnick said. "He has so many other authorities that even in the weird and unusual circumstance where this was taken away, we just bring on another or another or another." In addition to the trade court's ruling, a federal district judge in Washington, D.C. blocked the Trump administration from collecting tariffs from a pair of Illinois toy importers, also ruling that the same 1977 law didn't grant Trump the powers to impose tariffs as he claimed. Trump addressed the legal battles in a Sunday post on Truth Social: "If the Courts somehow rule against us on Tariffs, which is not expected, that would allow other Countries to hold our Nation hostage with their anti-American Tariffs that they would use against us. This would mean the Economic ruination of the United States of America!" Amid the tariff whiplash from the court rulings, Trump announced on May 30 that he's doubling his tariffs on steel and aluminum imports from a 25% rate to 50%. 'Nobody's going to get around that': Donald Trump to double tariffs on foreign steel to 50% "I think it cost us a week - maybe cost us a week," Lutnick said of the court decisions, arguing that other countries still want to make trade deals with the United States. "Everybody came right back to the table. Everybody is talking to us. You're going to see over the next couple of weeks really first-class deals for the American worker." For two months, Trump and White House officials have boasted about their prospects of using tariffs to secure trade agreements with other nations. So far, the administration has only secured a deal with the United Kingdom, in addition to a pact with China to slash massive tariffs on each other for 90 days. Trump later accused China of violating the tariff agreement on May 30, White House officials: Trump and China's Xi Jinping to speak soon, iron out trade fight Treasury Secretary Scott Bessent said on CBS' "Face the Nation" that he expects Trump to soon talk with Chinese President Xi Jinping, expressing confidence trade issues will be "ironed out," including over critical minerals he said Beijing is refusing to open to trade. "They are withholding some of the products that they agreed to release during our agreement," Bessent said. "Maybe it's a glitch in the Chinese system. Maybe it's intentional. We'll see after the president speaks with the party chairman." The Chinese government said Xi has not spoken to Trump since his Jan. 20 inauguration. "I believe we'll see something very soon," Bessent said when asked whether a meeting is scheduled for Trump to talk to Xi. Reach Joey Garrison on X @joeygarrison.
USA Today
16 hours ago
- Business
- USA Today
Trump's tariffs are 'not going away' amid legal battles, White House says
Trump's tariffs are 'not going away' amid legal battles, White House says Show Caption Hide Caption Donald Trump doubling tariffs on foreign steel President Trump, during a visit to a U.S. Steel facility in Pennsylvania, announced he will double tariffs on foreign steel to 50%. WASHINGTON ― President Donald Trump's tariffs are "not going away," Commerce Secretary Howard Lutnick said, downplaying a pair of recent court decisions that declared the bulk of the president's tariffs illegal and momentarily paused the levies. Lutnick's June 1 comments on Fox News Sunday came days after the Court of International Trade ruled that Trump lacked the authority under the emergency power he cited on April 2 to impose reciprocal tariffs on imports from most countries. An appeals court later said Trump can continue to levy the tariffs while challenging the ruling. Lutnick predicted Trump would win on appeal. But he also referenced other tariff authorities if the higher courts agree with the trade court that Trump can't invoke the International Emergency Economic Powers Act of 1977 to bypass Congress to issue the tariffs. Trade whiplash: Appeals Court allows Trump to keep tariffs while appeal plays out "Rest assured, tariffs are not going away," Lutnick said. "He has so many other authorities that even in the weird and unusual circumstance where this was taken away, we just bring on another or another or another." In addition to the trade court's ruling, a federal district judge in Washington, D.C. blocked the Trump administration from collecting tariffs from a pair of Illinois toy importers, also ruling that the same 1977 law didn't grant Trump the powers to impose tariffs as he claimed. Trump addressed the legal battles in a Sunday post on Truth Social: "If the Courts somehow rule against us on Tariffs, which is not expected, that would allow other Countries to hold our Nation hostage with their anti-American Tariffs that they would use against us. This would mean the Economic ruination of the United States of America!" Amid the tariff whiplash from the court rulings, Trump announced on May 30 that he's doubling his tariffs on steel and aluminum imports from a 25% rate to 50%. 'Nobody's going to get around that': Donald Trump to double tariffs on foreign steel to 50% "I think it cost us a week ‒ maybe cost us a week," Lutnick said of the court decisions, arguing that other countries still want to make trade deals with the United States. "Everybody came right back to the table. Everybody is talking to us. You're going to see over the next couple of weeks really first-class deals for the American worker." For two months, Trump and White House officials have boasted about their prospects of using tariffs to secure trade agreements with other nations. So far, the administration has only secured a deal with the United Kingdom, in addition to a pact with China to slash massive tariffs on each other for 90 days. Trump later accused China of violating the tariff agreement on May 30, White House officials: Trump and China's Xi Jinping to speak soon, iron out trade fight Treasury Secretary Scott Bessent said on CBS' "Face the Nation" that he expects Trump to soon talk with Chinese President Xi Jinping, expressing confidence trade issues will be "ironed out," including over critical minerals he said Beijing is refusing to open to trade. "They are withholding some of the products that they agreed to release during our agreement," Bessent said. "Maybe it's a glitch in the Chinese system. Maybe it's intentional. We'll see after the president speaks with the party chairman." The Chinese government said Xi has not spoken to Trump since his Jan. 20 inauguration. "I believe we'll see something very soon," Bessent said when asked whether a meeting is scheduled for Trump to talk to Xi. Reach Joey Garrison on X @joeygarrison.
Yahoo
20 hours ago
- Business
- Yahoo
Trump's tariffs 'not going away' as deadline for deals loom, top adviser says
US President Donald Trump is not planning to extend the pause to his sweeping global tariffs, Commerce Secretary Howard Lutnick said. The president's plan - where countries face between 11% to more than 100% tariffs on goods brought into the US - was announced in April. But the majority of the tariffs were paused by Trump for 90 days in the wake of stock market volatility. Speaking with Fox News, Lutnick said he expects the President to stand firm when that 90 day pause expires at the start of July. A key trade deal would be with China, who US Treasury Secretary Scott Bessent said has "not been a reliable partner" and claimed it was holding back products in the global supply chain. The president's top trade advisers presented a united front in their appearances on separate US morning television programmes on Sunday. They remained steadfast on the tariff agenda, which has faced ongoing challenges in the nation's court system. "Tariffs are not going away," Lutnick said in response to the court cases. He added that the US "could sign lots of deals now" but the Trump administration is 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 said.. And on the expiration of the 90 day pause, Lutnick said: "I think that's the deadline, and the President's just going to determine what rates people have if they can't get a deal done". When the pause expires, in theory it would enact sweeping tariffs on countries across the globe. Imports from about 60 trading partners that the White House has described as the "worst offenders", including the European Union, Vietnam, South Africa and more, will face higher rates. Trump has described these taxes as payback for unfair trade policies. What tariffs has Trump announced and why? US pauses higher tariffs for most countries after market havoc, but hits China harder On Friday, Trump announced the US will double its current tariff rate on steel and aluminium imports from 25% to 50%, beginning on Wednesday. Like with most of the announced tariffs, Trump said the move would help boost local steel industry, while reducing US reliance on China. US steel manufacturing has decreased in recent years and countries like China, India and Japan have become the world's biggest producers. The steel tariffs come as many hold their breath waiting for further announcements. from the Trump administration. Trump's tariff policies have upended global trade and cracks have formed - or widened - among relationships between the US and other countries, including some of its closest partners. The levies have worsened relations between China and the US, the two largest global economies - and launched the countries into a tit-for-tat trade battle. Under a trade truce struck in May at Geneva, the US lowered tariffs imposed on goods from China from 145% to 30%. China's retaliatory tariffs on US goods dropped from 125% to 10%. But a larger trade deal between the countries has not been established. On Sunday, Treasury Secretary Bessent told CBS News, the BBC's US news partner, details of the trade will be "ironed out" once Chinese President Xi Jinping and Trump speak, but he did not say exactly when that conversation is expected. "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," Bessent said. The Treasury Secretary claimed China could be withholding some products because of a "glitch", or he said it could be "intentional" - but the administration would not know for sure until a call with both countries happened. On Friday, China urged the US to "immediately correct its erroneous actions, cease discriminatory restrictions against China and jointly uphold the consensus reached at the high-level talks in Geneva". White House National Economic Council Director Kevin Hassett told ABC News on Sunday that Trump and Xi are expected to talk this week, and said "both sides have expressed a willingness to talk". "The bottom line is that we've got to be ready in case things don't happen the way we want," Hassett said of the expected China talks. "Because if we have cannons without cannonballs, then we can't fight a war." "We have to have a steel industry that's ready for American defence," he said. China hits back after Trump claims it is 'violating' tariff truce Trump tariffs can stay in place for now, appeals court rules Trump tariffs get to stay in place for now. What happens next? EU 'strongly' regrets US plan to double steel tariffs
