U.S.-China Trade Deal Secures Tariffs Amid New Agreements

U.S. Commerce Secretary Howard Lutnick announced on Wednesday that the United States will maintain its 55% tariffs on China, even after reaching a trade agreement. President Donald Trump confirmed that a U.S.-China trade deal is finalized, following intensive negotiations to stabilize trade relations.

Lutnick, speaking with CNBC, emphasized that the tariff levels on China will not change for now. The negotiated trade agreement, pending signatures from both President Trump and Chinese President Xi Jinping, includes lifting Chinese export restrictions on vital industrial materials.

The Commerce Secretary also highlighted China's commitment to expanding trade with the U.S. and mentioned forthcoming trade agreements with other nations to be formalized next week.

(With inputs from agencies.)