Lutnick Confirms Tariffs Go Live Aug. 1, No More Grace Periods

NEW DELHI- The US on July 27 stated that the August 1 deadline for imposing reciprocal tariffs remains unchanged and there will be no extension this time.

US Commerce Secretary Howard Lutnick ruled out any possibility of an extension on the Fox News Sunday TV programme.

“No extensions, no more grace periods. August 1, the tariffs are set. They’ll go into place. Customs will start collecting the money, and off we go,” Lutnick was quoted as saying on the show.

As of now, EU and five countries have signed trade deals with the Trump administration ahead of next week’s deadline. These are Britain, Vietnam, Indonesia, the Philippines, and Japan.

Meanwhile, India has a deal with UK, while the much-awaited pact with the US is yet to see the light of day amid  negotiations between both sides. (IANS)