Trump to appeal tariff ruling, warns of economic consequences
Investing.com -- Commerce Secretary Howard Lutnick detailed key aspects of U.S. trade policy during an interview on CNBC Tuesday, highlighting strategic approaches to China, steel tariffs, and a new trade agreement with Indonesia.
Lutnick explained that the U.S. is selling China its "fourth best" chip technology as part of a magnets deal, emphasizing the importance of staying "one step ahead of China" to ensure they continue purchasing American chips. He noted the need to get Chinese developers "addicted" to the U.S. technology stack.
On the topic of artificial intelligence, Lutnick framed the development as a competition between U.S. and Chinese standards.
Regarding steel imports, the Commerce Secretary stated that South Korea, China, and Japan are dumping steel in the United States. He clarified that tariffs are not being applied to raw steel but rather to finished steel products.
Lutnick also discussed a new trade agreement with Indonesia, which includes tariffs on Indonesian goods while allowing U.S. goods to enter Indonesia tariff-free. The interview concluded after these remarks.
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