- Commerce Secretary Howard Lutnick said that countries can still negotiate with the U.S. after Aug. 1, but that is the deadline for countries to begin paying so-called reciprocal tariffs.
- Lutnick also suggested smaller nations would likely have a baseline tariff of 10%.
- “The bigger economies will either open themselves up or they’ll pay a fair tariff to America,” Lutnick said.
Commerce Secretary
Howard Lutnick
said Sunday that
Aug. 1
is the deadline for countries to begin paying tariffs to
United States
, but said that “nothing stops countries from talking to us after August 1.”
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“That’s a hard deadline, so on August 1, the new tariff rates will come in,” Lutnick said on
CBS News
, when asked about the deadline for his
tariffs on the European Union.
President
Donald Trump’s
tariff deadline has shifted since he announced his steep levies on trading partners on
April 2
, but White House officials now maintain that Aug. 1 is a firm deadline.
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“Nothing stops countries from talking to us after August 1, but they’re going to start paying the tariffs on August 1,” Lutnick said.
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Lutnick said that some small countries, “the Latin American countries, the Caribbean countries, many countries in Africa,” would have a baseline tariff of 10%.
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Lutnick’s comments could bring relief for nations anxiously awaiting a definitive decision on tariff rates from Trump, who recently suggested that baseline tariff rates for these nations could be over 10%.
The president announced last week that letters to smaller countries would be sent out soon. “We’ll probably set one tariff for all of them … probably a little over 10%,” Trump said.
Lutnick added that “the bigger economies will either open themselves up or they’ll pay a fair tariff to America.”
Lutnick’s comments come after Trump earlier this month
sent letters to trading partners
notifying them of the new tariff rates, which reached as high as 40% for some nations.
The letters, posted on Trump’s Truth Social, said that tariffs would take effect Aug. 1, prompting last-minute negotiations from trading partners seeking a lower rate.
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