Howard Lutnick, the U.S. Secretary of Commerce, stated that the imposition of high tariffs will be implemented without delay starting from the 1st of next month.
However, he noted that countries can still communicate with the United States after Aug. 1, leaving the door open for negotiations.
Minister Lutnick appeared on CBS on the 20th (local time) and said, "Aug. 1 is a hard deadline."
He confirmed once again that the new tariff rates notified to major trading partners, including Korea (25%), Japan (25%), and the European Union (EU) (30%), will take effect from Aug. 1.
Minister Lutnick also provided additional explanations regarding the tariff rate structure. He stated, "A basic tariff of 10% will be applied to many small countries in Latin America, the Caribbean, and Africa."
This signifies a retreat from the recent indication made by President Trump that the basic tariff rate could be raised to between 15% and 20%.
In contrast, he warned that for countries with large economies, they must either open their markets or pay a fair tariff to the United States.
Minister Lutnick said, "If American corporations and farmers are ready to open the door, we will reach a better agreement, but if we're suppressed by tariffs and non-tariff barriers, it is fair to pay tariffs to trade with American consumers."
He expressed strong confidence regarding the ongoing negotiations with the most noteworthy EU.
Minister Lutnick noted, "I spoke with EU trade negotiators this morning," and added, "There is plenty of room for agreement, and we are confident that we will reach an agreement."
However, public opinion within the United States remains critical of the tariff policy. According to a poll released by CBS, 61% of Americans believe the administration is focusing too much on tariffs.
Minister Lutnick dismissed this, saying, "Americans will love the transactions we are making," and added, "The next two weeks will be historic."