Commerce Sec. Lutnick is saying;
- Expects the China deadline to be extended another 90 days (the initial deal was set to expire on August 12)
- Reiterates that Trump will not charge tech companies a tariff on semiconductors if they are manufactured in the US.
- The US expects 50 billion a month in tariff revenue. (earlier Lutnick had said that the US revenues from tariffs would be $700 billion.So he is revising down his number to $600 billion)
This article was written by Greg Michalowski at investinglive.com.
