Aug. 1 is 'hard deadline' for Trump's tariffs, Commerce Secretary Lutnick says

Commerce Secretary Howard Lutnick said Sunday that Aug. 1 is the deadline for countries to statesman paying tariffs to the United States, but said that "nothing stops countries from talking to america aft August 1."

"That's a hard deadline, truthful connected August 1, the caller tariff rates volition travel in," Lutnick said connected CBS News, erstwhile asked astir the deadline for his tariffs connected the European Union.

President Donald Trump's tariff deadline has shifted since helium announced his steep levies connected trading partners connected April 2, but White House officials present support that Aug. 1 is simply a steadfast deadline.

"Nothing stops countries from talking to america aft August 1, but they're going to commencement paying the tariffs connected August 1," Lutnick said.

Lutnick said that immoderate tiny countries, "the Latin American countries, the Caribbean countries, galore countries successful Africa," would person a baseline tariff of 10%.

Lutnick's comments could bring alleviation for nations anxiously awaiting a definitive determination connected tariff rates from Trump, who precocious suggested that baseline tariff rates for these nations could beryllium implicit 10%.

The president announced past week that letters to smaller countries would beryllium sent retired soon. "We'll astir apt acceptable 1 tariff for each of them ... astir apt a small implicit 10%," Trump said.

Lutnick added that "the bigger economies volition either unfastened themselves up oregon they'll wage a just tariff to America."

Lutnick's comments travel aft Trump earlier this period sent letters to trading partners notifying them of the caller tariff rates, which reached arsenic precocious arsenic 40% for immoderate nations.

The letters, posted connected Trump's Truth Social, said that tariffs would instrumentality effect Aug. 1, prompting last-minute negotiations from trading partners seeking a little rate.