U.S. Secretary of Commerce Howard Lutnick revealed on Tuesday that the Trump administration has completed its first trade agreement, but he stated that it is not yet finalized and refused to disclose the names of the countries involved. Lutnick made the comments during an interview with CNBC host Brian Sullivan.
"The agreement on my end is completed, completed, completed, completed, but I still need to wait for the other side's Prime Minister and Parliament approval. I expect this will come soon."
Lutnick's remarks caused the stock market to immediately rise to its daily high, indicating that Wall Street is closely monitoring signs of progress in trade negotiations.
Lutnick refused to disclose specific information about the country, but he clearly stated that this agreement does not involve China. The negotiations with China are handled by Treasury Secretary Scott Bessent. Since the U.S. Trade Representative's Office (USTR) has previously indicated that Europe is not actively involved in tariff negotiations, the EU can also be excluded. It is widely believed that Japan, South Korea, and India are the most likely countries to sign the agreement, although a small number of market observers believe that this is information deliberately released by Howard Lutnick to enhance the willingness of other countries to negotiate.
At the time of writing, it has been a month since 'Liberation Day.' Although the Trump administration stated that dozens of countries have actively reached out in recent weeks to express their willingness to reach an agreement, no formal agreement has been announced to date.
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