President Donald Trump’s country-by-country tariffs are slated to take effect on August 1, according to Commerce Secretary Howard Lutnick. This announcement signals a period of potential negotiation for US trading partners, extending beyond the previously indicated deadline of July 9. The administration appears to be working towards finalising agreements in the coming days.
Trump indicated that letters regarding impending tariff increases would be issued starting this week, with the first batch going out Monday and additional correspondence on Tuesday. He also mentioned that some deals have already been reached, providing an alternative to the tariffs for certain countries. However, the President did not specify which countries or groups, such as the European Union, fall into either the ‘letter’ or ‘deal’ categories.
Speaking alongside Trump, Lutnick clarified the timeline, stating, “Tariffs go into effect August 1, but the president is setting the rates and the deals right now.” This suggests that while the August 1 date remains firm, the specifics of which countries will be affected and at what rates are still being actively determined. The Commerce Secretary’s remarks point to a dynamic situation, with ongoing negotiations and potential agreements shaping the final outcome of the tariff impositions.
