The US is about to announce a series of new trade agreements: A signal of accelerating global cooperation.

US Commerce Secretary Howard Lutnick said the country will announce dozens more agreements with partners in the next month.

On May 8, the US announced an import tax agreement with the UK. This is the first agreement the country has reached with trading partners since President Donald Trump announced import tariffs on most economies in the world.

In an interview with CNBC yesterday, US Commerce Secretary Howard Lutnick praised President Donald Trump as "the best negotiator in the world". He said the agreement with the UK had been analyzed in detail, covering many products, demonstrating the efforts of both countries.

With other economies, such as India, Japan, South Korea, or the European Union, Lutnick admitted that "the workload is huge" and "it will take a long time". However, he was optimistic that the US would still reach agreements with countries during the 90-day reciprocal tariff suspension period.

"We'll be announcing dozens more in the next month or so," he said. The US is working on a model deal, grouping 20-30 countries with similar economic profiles into one group. "We'll look at their products, make adjustments, and come up with a model that works. If they want to modify them a little bit, that's fine," Lutnick said.

US Commerce Secretary Howard Lutnick at the White House on February 21. Photo: Reuters

However, he said the overall tariff of 10% will remain in place. "As President Trump said, this is already a low level," he explained. This level applies to economies that have a balanced trade balance with the US. Surplus countries will be subject to higher tariffs.

"If they really open up their markets, if they're really serious and say 'we want fair and balanced trade with the United States,' the best they can get is 10%. It's more likely to be higher, but the best they can get is 10%," he said.

Lutnick also revealed that Washington is aiming to ease tensions with China through upcoming trade talks. On May 8, the US President said he expected to have substantive trade talks with China this weekend. He also predicted that the 145% tariff on Beijing is likely to be reduced.

(according to Reuters, CNBC)