U.S. to collect $50 billion a month from tariffs, says Lutnick

Investing.com -- U.S. Commerce Secretary Howard Lutnick said on Thursday that he expects the United States to eventually collect as much as $50 billion a month from tariffs, as higher levies on imports from dozens of countries take effect.

"And then you’re going to get the semiconductors, you’re going to get pharmaceuticals, you’re going to get all sorts of additional tariff money coming in," Lutnick stated during an interview with Fox Business Network.

When asked about the possibility of extending the August 12 deadline for reaching a tariff agreement with China, Lutnick indicated it was possible.

"I think we’re going to leave that to the trade team and to the president to make those decisions, but it feels like likely that they’re going to come to an agreement and extend that for another 90 days, but I’ll leave it to that team," he said.

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