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Japan, South Korea Trade Deals Will Be Hard,Says Commerce Secretary (Full Interview)
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May 8, 2025
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9:01Now PlayingCommerce Secretary Howard Lutnick said that trade deals with South Korea and Japan could take significantly more time to complete than the framework agreement President Donald Trump announced Thursday with the UK, in a signal that some Asian partners may have to wait for tariff relief.
“You’ve got to spend an enormous amount of time with Japan, South Korea. These are not going to be fast deals,” Lutnick said in an interview on Bloomberg Television.
Lutnick added that India has been “leaning in really hard” and the country was “certainly” a possibility to be among the next countries to reach an agreement. But, he cautioned, “this is a lot of work.”
“When you talk about India, it’s probably 7,000 lines” of tariffs to be changed or modified under a hypothetical agreement, Lutnick said. “It just takes time, and it just takes work — so give us a chance, don’t be pushing and rushing.”
At the same time, Lutnick said he was hopeful that initial deals could serve as templates for their respective regions, helping illustrate what kind of concessions Trump was looking for in exchange for tariff relief.
“We’re trying to show people a frame for how to do business so that we can roll much more quickly, right?” Lutnick said.
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