Commerce Secretary Howard Lutnick gloats about baffling UK trade deal

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Commerce Secretary Howard Lutnick gloats about baffling UK trade deal

Commerce Secretary Howard Lutnick gleefully gloated Thursday that the U.S. went into trade negotiations with the U.K. with 10 percent tariffs and “we left with 10 percent tariffs” in a tentative deal.He also warned that every country can expect to keep paying at least those 10 percent across-the-board tariffs imposed by Donald Trump, regardless of any trade agreement.That means American consumers will likely still be hit by higher prices as U.S. importers fork over the money to pay those tariffs. The higher prices are expected to fuel inflation.The U.S. last year had a $12 billion trade surplus with the U.K., ..