U.S. Reports Enforcing Higher Tariffs by August 1
(MENAFN) U.S. Commerce Secretary Howard Lutnick announced on Sunday that elevated tariff levels will be enforced starting August 1 unless international trade partners reach agreements with Washington.
"They go into effect Aug. 1, but the president is setting the rates and the deals right now," Lutnick stated during a media briefing alongside President Donald Trump.
Back in April, the United States implemented reciprocal tariffs targeting most nations but placed those measures on hold for a 90-day period commencing April 9.
Since then, active discussions have been underway as multiple countries aim to secure improved trade arrangements with the largest economy in the world ahead of the looming deadline.
When a reporter asked if the tariffs would shift on July 9 or August 1, Trump responded, "They're going to be tariffs."
He further remarked, "I think we'll have most countries done by July 9th. Yeah. Either a letter or a deal."
The previous week, Trump indicated that he intended to dispatch official communications to several countries detailing their respective tariff terms.
"We're going to be sending letters out on Monday having to do with the trade deals...It could be as many as 15 or so...and some will go out on Tuesday and Wednesday — and we've made deals also."
He added to the press, "So we’ll get to have a combination of letters, and some deals have been made."
The developments reflect the administration’s push to finalize bilateral agreements or impose tariffs as a mechanism to secure more favorable trade terms.
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