U.S. Commerce Secretary Howard Lutnick Reveals First Trade Agreement
U.S. Commerce Secretary Howard Lutnick disclosed on Tuesday that the Trump administration has completed its first trade agreement, but he stated that it is not yet finalized and declined to reveal the names of the involved countries. Lutnick made these remarks during an interview with CNBC host Brian Sullivan.
“The agreement on my end is complete, complete, complete, complete, but I still need to wait for the approval from the other party’s prime minister and parliament, which I expect will come soon,” Lutnick said.
Following Lutnick’s comments, the stock market immediately surged to its daily high, indicating that Wall Street is closely monitoring signs of progress in trade negotiations.
Lutnick refused to provide specific information about the country involved, but he clearly stated that the agreement does not involve China, as negotiations with China are being handled by Treasury Secretary Scott Bessent. Given that the Office of the United States Trade Representative (USTR) previously indicated that Europe is not actively participating in tariff negotiations, it can also be excluded from consideration. The general consensus among observers is that Japan, South Korea, and India are the most likely countries to sign the agreement. However, a minority of market watchers believe that Howard Lutnick may have deliberately released this information to enhance the negotiating willingness of other countries.
As of the time of writing, a month has passed since “Liberation Day.” Despite the Trump administration’s assertion that dozens of countries have proactively reached out in recent weeks to express their willingness to reach an agreement, no official agreements have been announced to date.