U.S. President Donald Trump and U.S. Secretary of Commerce Howard Lutnick have announced that the implementation of new customs tariffs has been postponed until August 1, according to today’s “Guardian.”
Trump stated that his administration plans to begin sending letters today to U.S. trade partners confirming the new tariffs. “It could be 12, maybe 15 letters. We’ve already reached some agreements,” Trump told reporters.
Given that the previously announced 90-day pause regarding tariffs was set to end on July 9, the president was asked whether the new rates would take effect this week or on August 1, as some officials had suggested.
FIND OUT MORE:
“I think we’ll be done with most countries by July 9, yes. Either by letter or by agreement,” Trump said, but his statement was not clear enough, according to the “Guardian.”
Wishing to prevent confusion, U.S. Secretary of Commerce Howard Lutnick stepped in and added: “Customs tariffs take effect on August 1, but the president is currently determining the rates and agreements.”
In April, Trump announced a basic tariff rate of 10 percent for most countries and additional tariffs ranging up to 50 percent. He later postponed the effective date of the new tariffs until July 9 for all but those countries assigned a 10 percent rate.
The new date, August 1, provides countries with an additional three-week delay but also forces importers into an extended period of uncertainty due to the ambiguities surrounding the tariff implementation.
MORE TOPICS:
VUČIĆ ON STUDENTS: “Times come when all the social dregs, the sludge, all the worst in a society surfaces”
TEXAS ON EDGE: These are the Girls Missing from the Camp During Floods, Search Continues! (PHOTOS)
Source: Telegraf, Foto: AP