Commerce Secretary Howard Lutnick joins ‘Fox Information Sunday’ to weigh in on President Donald Trump’s tariff plan, a possible EU deal and necessities for TikTok to stay within the U.S. by means of American possession.
Commerce Secretary Howard Lutnick agreed with President Donald Trump’s “50-50” odds of putting a commerce cope with the European Fee forward of an Aug. 1 deadline, saying that the primary query is whether or not the 27-country bloc will supply the president “the suitable deal.”
Lutnick appeared on “Fox Information Sunday” and was requested about Trump’s feedback on the possibilities of a deal forward of the president’s assembly with European Fee chief Ursula von der Leyen in Scotland on Sunday.
“If the president places the chances at 50-50, these are the chances,” Lutnick mentioned. “Look, Europe must make a deal and needs to make a deal, and they’re flying to Scotland to make a cope with President Trump.”
“The query is, do they provide President Trump a adequate deal that’s price it for him to step off of the 30 p.c tariffs that he set?” the commerce secretary continued.
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Lutnick mentioned he agreed with Trump’s “50-50” possibilities of putting a commerce cope with the EU earlier than the Aug. 1 deadline. (Samuel Corum/Sipa/Bloomberg through Getty Pictures, File / Getty Pictures)
Trump has mentioned “we have now a 50-50 probability, perhaps lower than that, however a 50-50 probability of constructing a cope with the EU.” The bloc of 27 member states at the moment faces a tariff price of 30% if a deal isn’t reached by the deadline.
When Trump met with von der Leyen later Sunday, the EU chief agreed with Trump’s odds of a deal being reached earlier than Aug. 1.
President Donald Trump meets with European Fee President Ursula von der Leyen, in Turnberry, Scotland, Britain, July 27, 2025. (REUTERS/Evelyn Hockstein / Reuters Pictures)
“It’s about rebalancing,” von der Leyen advised reporters as she sat subsequent to Trump. “You may name it equity, you possibly can name it rebalancing. We’ve a surplus and the USA has a deficit, and we have now to rebalance it.”
Trump advised reporters that the bottom tariff price the U.S. might conform to with the bloc was 15%.
As the 2 events proceed commerce talks, Lutnick mentioned that “the suitable deal” would see the bloc opening their markets and “actually negotiate with [Trump] the suitable manner.”
“It is as much as President Trump, who’s the chief of this negotiating desk. We set the desk. The staff units the desk. However Donald Trump does his negotiations by himself,” he mentioned, pointing to Trump’s “masterclass” in commerce negotiations with Japan.
FOX Enterprise host Larry Kudlow says nations all over the world wish to do enterprise with the U.S. due to President Donald Trump on Kudlow.
The U.S. and Japan got here to a historic $550 billion commerce deal final week that may see Japan open its nation to commerce in issues like vehicles, vehicles, rice and different agricultural merchandise, in addition to pay reciprocal tariffs of 15% to the U.S., beneath the deal.
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The White Home later confirmed to Fox Information that beneath the commerce deal Japan would purchase 100 Boeing planes, increase rice purchases by 75%, purchase $8 billion in agricultural and different merchandise, and hike protection spending with U.S. companies to $17 billion yearly, up from $14 billion.
The deadline for the Trump administration to start imposing tariffs stays set for Aug. 1 and won’t shift, based on Lutnick.
“So no extensions, no extra grace durations,” he mentioned. “Aug. 1st, the tariffs are set, they will go into place. Customs will begin gathering the cash and off we go.”
Lutnick added that nations which have failed to achieve a deal can nonetheless discuss to Trump even after the deadline passes.
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“I imply, he is all the time keen to hear,” Lutnick mentioned of the president, including that “whether or not they could make him comfortable is one other query.”
