Apr 29, 06:50 PM

Trump Administration Reaches Trade Deal With Unnamed Country, Awaiting Approval; Stocks Rise

U.S. Commerce Secretary Howard Lutnick announced that the Trump administration has reached a trade deal with an unnamed country. However, the agreement awaits approval from the country's prime minister and parliament, which Lutnick expects shortly. The announcement was made during an interview with CNBC at an Arizona semiconductor factory. The announcement led to a rise in U.S. stock market indices, with the Dow Jones increasing by about 200 points and the S&P 500 rising by 0.7%, reaching session highs. Lutnick clarified that his portfolio includes trade deals with countries other than China, which is being handled by Treasury Secretary Scott Bessent. This development comes nearly a month after President Donald Trump's 'Liberation Day,' when he introduced widespread tariff hikes. While many tariffs have been paused for 90 days, those on China have been increased to over 100%. Lutnick stated that increased U.S. manufacturing is one of the goals of the Trump administration's tariff policies.

#Howard Lutnick #Trump #Lutnick #CNBC #Arizona #Dow Jones #China #Scott Bessent #Donald Trump #Liberation Day

Written with ChatGPT .

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Trump Administration Reaches Trade Deal With Unnamed Country, Awaiting Approval; Stocks Rise

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