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Howard Lutnick: US 'Won't Go Below 10%' But Will Be 'Flexible' And Set Tariffs 'Country-By-Country'
Forbes Breaking News
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5/12/2025
On Sunday, Secretary of Commerce Howard Lutnick spoke to CNN's Dana Bash on "State of the Union" about President Trump's tariffs.
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00:00
business have said that they're going to pass it off to the consumer. I want to ask,
00:04
because you are working on other deals, of course, many of them outside of what has happened and is
00:10
happening with the UK. Is that 10% tariff kind of a baseline in the way you're approaching these
00:16
other countries that you're negotiating with? Yes, we will not go below 10%. That is just not
00:24
a place we're going to go. We will, country by country, address their particular issues.
00:30
So, for instance, with steel and aluminum and aircraft parts, we said those could come into
00:36
the country tariff-free, right? So Rolls-Royce engines could go on a Boeing jet that Boeing sells.
00:42
And, of course, you saw that Boeing announced a $10 billion deal to sell those Boeing aircraft
00:48
with Rolls-Royce engines to British Airways. So that's an example how we're going to be
00:54
flexible and we're going to be super smart country by country. But at least you saw the rates that
01:01
were published on Liberation Day. Those countries can take those rates down if they open their markets
01:08
to Americans to export. Let Americans get their stuff on these foreign governments and foreign
01:15
consumer shelves and we'll be better as a country. I think what's happened is we just have never felt
01:21
the fairness of our ability to export. Finally, the president of the United States is on our side
01:27
and that's what you're going to see in the U.K. and then country after country. We're going to announce,
01:32
like we did with the U.K., how many tens of billions of dollars of new opportunity the president
01:38
is negotiating for American small businesses and medium-sized businesses to sell their products
01:44
overseas. That's the golden age that's coming and everybody else is going to build in America
01:49
to get around that tariff. Remember, there's no tariff if you build it in America.
01:55
The entire world is hoping that what you are saying does come true and waiting for the next step.
02:02
I also want to wish your wife a happy Mother's Day for kids. That's pretty awesome.
02:06
Thank you, Mr. Secretary. Thanks so much.
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