US Secretary of Commerce, Howard Lutnick, announced on Tuesday that the Trump government has reached its first trade agreement, although it is not yet fully finalized.
During an interview with CNBCLutnick revealed that he is awaiting the approval of the Prime Minister and Parliament of an unidentified country, which he expects to occur soon.
“I have a deal made, made, made, but I need to wait for their approval,” said Lutnick.
After Lutnick’s comments, the stock market recorded a significant high, reflecting the expectation of investors for progress in commercial negotiations.
Uncertainty around tariffs and trade agreements has caused volatility in the market, but actions have recovered in recent weeks after a period of sharp falls.
Lutnick emphasized that he is not dealing directly with China, whose negotiations are under the responsibility of Treasury Secretary Scott Bessent.
Continues after advertising
Lutnick’s statements appear almost a month after “Liberation Day,” when President Donald Trump implemented comprehensive tariff increases in most countries. Although many of these tariffs have been suspended for 90 days, tariffs on China were raised to more than 100%.
The Trump government has stated that dozens of countries have expressed interest in signing agreements in recent weeks, but no official agreement has been announced so far. Japan, South Korea and India are among the most likely candidates for future agreements.
Lutnick, who made his statements during a visit to a construction site from a semiconductor factory in Arizona, stressed that the increase in manufacturing in the US is one of the objectives of Trump government tariff policies.
