U.S. Commerce Secretary: August 1 is the final deadline for countries to start paying tariffs to the U.S., but "negotiations are still possible"

BlockBeats News, July 21st, U.S. Secretary of Commerce Howard Lutnick stated in an interview with CBS News last Sunday that August 1st is the deadline for countries to start paying tariffs to the United States, but he emphasized that "after August 1st, countries can still continue to negotiate with the United States."

Lutnick revealed that some small countries—Latin American countries, Caribbean countries, and many African countries—will be subject to a "10% base tariff." This statement may have relieved these countries to some extent, as Trump had previously hinted that the base tariff for these countries could exceed 10%. However, he also stated, "Larger economies have only two choices—either open their markets to the United States or pay a fair tariff."