Express
US Commerce Secretary: Tariffs to Take Effect on August 1
Summary: According to sources, Trump announced on Sunday that he has reached some trade agreements with trading partners and will be notifying other countries that tariff rates will increase. US Commerce Secretary Lighthizer told reporters that higher tariffs will take effect on August 1, but Trump is currently finalizing the rates and agreements. In April this ...
According to sources, Trump announced on Sunday that he has reached some trade agreements with trading partners and will be notifying other countries that tariff rates will increase. US Commerce Secretary Lighthizer told reporters that higher tariffs will take effect on August 1, but Trump is currently finalizing the rates and agreements. In April this year, Trump announced a 10% basic tariff on most countries, as well as additional tariffs of up to 50%, although he later postponed the effective date for all countries' tariffs to July 9 (excluding the 10% tariff). Lighthizer's comments suggest a three-week tariff reprieve. US Treasury Secretary Mnuchin had previously made similar remarks, stating that countries without agreements will face tariffs starting August 1, but denied that this date is a new deadline.
