US Commerce Secretary Lutnick warned on Sunday that August 1 is the final deadline for countries to start paying reciprocal tariffs to the United States. However, he also clarified that even after August 1, countries can still have dialogue with the US without restriction.
In an interview with CBS News, Lutnick was asked about the deadline for EU tariffs. He cautioned: “This is a hard deadline, so on August 1, the new tariffs will take effect.”
On April 2, US President Trump announced substantial reciprocal tariffs on partner countries, but the effective date has been postponed multiple times. However, White House officials are now insisting that August 1 is the confirmed deadline.
Lutnick said: “Nothing can stop countries from negotiating with us after August 1, but they will start paying tariffs from August 1.”
10% Base Tariff for Small Countries
He stated that certain small countries, such as those in Latin America, the Caribbean, and many in Africa, will be subject to a 10% base tariff.
Lutnick's remarks may come as a relief to some countries anxiously awaiting Trump’s decision on tariff rates. Recently, Trump indicated that the base tariff rates for these countries could exceed 10%. Last week, Trump said that tariff letters for smaller countries may be issued soon, “We might set a tariff on all of them, possibly slightly above 10%.”
Warning Larger Economies to Open Their Markets
Lutnick noted: “The larger economies must either open their markets or pay a fair tariff to the United States.”
Earlier this month, Trump began sending tariff letters to partner countries, informing them of the new tariff rates, with some rates reportedly as high as 40%.
These tariff letters were posted on Trump’s social platform, Truth Social, stating that the tariffs will become effective on August 1. This has prompted partner countries to seek last-minute negotiations and seek tariff reductions.