Commerce Secretary Howard Lutnick said he expects the U.S. and China to first lower tariffs before making a trade deal. “De-esescalating, bringing those rates down” is likely the goal of the U.S.

Commerce Secretary Howard Lutnick said after the U.S. trade deal with the U.K. Thursday, he expects more deals with big economies soon. “Over the next month or so, we’re going to roll out dozens of ...