Lutnick's analysis comes weeks after China filed a lawsuit against the U.S. with the World Trade Organization over its 10% tariff. It issued its own 10% tariff.

WASHINGTON (AP) — U.S. Commerce Secretary Howard Lutnick said Thursday in a television interview that President Donald Trump will “likely” suspend 25% tariffs on Canada and Mexico for most products and services for a month, broadening an exemption that was granted on Wednesday only to autos.

Commerce Secretary Howard Lutnick said Trump was looking at an existing trade deal as a way to meet Canada and Mexico "in the middle some way."