US Commerce Secretary Howard Lutnick has confirmed that the 55% tariffs imposed on China will not change following a trade deal between the two countries. The agreement, which needs to be signed by both President Donald Trump and Chinese President Xi Jinping, aims to remove Chinese export restrictions on rare earth minerals and other critical industrial components. Lutnick also stated that China has agreed to explore ways to increase business with the US, paving the way for potential trade deals with other countries starting next week.
Source: https://www.reuters.com/world/china/lutnick-says-us-tariff-levels-china-wont-change-2025-06-11