United States imposes tariffs after August 1

The United States will not extend the pause for the introduction of tariffs. The tariffs will come into effect in August. During the broadcast, he expressed confidence that the Trump administration will conclude trade agreements with partners in the coming weeks. That is, before high tariffs come into effect against dozens of countries.

At the same time, he confirmed that the tariffs will come into effect on August 1.

"The next two weeks are going to be weeks for the record books. President Trump is going to deliver for the American people," Liutnyk said.

In July, Trump sent letters to 25 trading partners, including Canada, Mexico, and the European Union. The president warned them of a tariff increase starting August 1 if they did not reach a deal.

Before that, the administration had been pushing countries for months to sign trade agreements with the US, but so far, only a handful of deals have been officially announced.

According to a CBS poll, 61% of Americans believe the administration is too focused on tariffs.

However, Lutnick said that the American people will love the deals that President Trump and I are making, and argues that the White House's strategy of sending out tariff letters has led to progress.

"That's gotten these countries to the table, and they are going to open their markets or they're going to pay the tariff," the Commerce Secretary said.

One of the most closely watched issues is negotiations with the EU. Last year, the US traded $975.9 billion worth of goods with the 27-country bloc. That is more than with any other country individually.

Trump, for his part, has threatened to impose a 30% tariff on exports to the US starting in August, up from the 20% he briefly imposed on Europe in April.

In an interview with CBS, Lutnick said he was confident that we would reach an agreement, noting that he had spoken with a leading European trade negotiator earlier that morning.

He also called August 1 a hard deadline and said the US plans to start charging higher tariffs early next month, adding that no extensions will be granted.

"Nothing stops countries from talking to us after Aug. 1st." Lutnick adds.

EU preparing countermeasures

Recall that today, Bloomberg reported that EU ambassadors are to meet next week to develop a plan of action in case there is no trade agreement with Trump.

The agency's sources also reported that last week's negotiations in Washington have not yet yielded any significant progress.