Commerce Secretary Howard Lutnick said Wednesday that new tariffs on China are “on the table” in response to its purchases of Russian oil. The statement comes one day after President Trump imposed similar tariffs on India. Lutnick also noted that the current U.S.-China trade truce, set to expire on August 12, will “likely” be extended for another 90 days.
- Commerce Secretary Lutnick says all options, including tariffs on China, are being considered
- Follows Trump’s new tariffs on India over Russian oil purchases
- Existing U.S.-China tariff truce is set to expire August 12
- Lutnick says a 90-day extension of the truce is “likely”
Relevant Companies
- Apple (AAPL) – May face cost increases or supply disruptions if U.S. imposes new tariffs on China, where much of its supply chain is located.
- Tesla (TSLA) – Operates a major manufacturing facility in Shanghai; potential exposure to new trade restrictions.
- Nvidia (NVDA) – Relies heavily on Chinese markets and manufacturing partners for components and distribution.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
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