President Donald Trump's country-by-country tariffs will take effect Aug. 1, Commerce Secretary Howard Lutnick said, signaling some breathing room for US trading partners ahead of a July 9 deadline previously set by the president.
“I think we'll have most countries done by July 9, either a letter or a deal,” Trump told reporters Sunday before boarding Air Force One to head back to Washington from a weekend in New Jersey. He suggested that letters with looming tariff increases will start going out Monday and “some will be going out on Tuesday.”
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“We made deals also, so we're going to have a combination of letters and some deals have been made,” Trump said. He didn't specify any countries or groups like the European Union in either category.
“Tariffs go into effect Aug. 1 but the president is setting the rates and the deals right now,” Lutnick said alongside Trump.
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