Commerse Sec. Lutnick: US likely to extend China deadline by 90 days | investingLive

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).

The Commerce Sec. is the leader (outside of Trump) for re-shoring. He wants manufacturing to return to the US and the leverage that Trump with the US tariffs, he has been able to get concessions as evidence from Apple agreement to at another hundred billion dollars of investment dollars toward building manufacturing in the US.

China is a separate story. That is more difficult and will take time.