Lutnick Says Trump’s Tariffs Will Take Effect on Aug. 1

(Bloomberg) -- President Donald Trump’s country-by-country tariffs will take effect Aug. 1, Commerce Secretary Howard Lutnick said, signaling some breathing room for US trading partners ahead of a July 9 deadline previously set by the president.

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“I think we’ll have most countries done by July 9, either a letter or a deal,” Trump told reporters Sunday before boarding Air Force One to head back to Washington from a weekend in New Jersey. He suggested that letters with looming tariff increases will start going out Monday and “some will be going out on Tuesday.”

“We made deals also, so we’re going to have a combination of letters and some deals have been made,” Trump said. He didn’t specify any countries or groups like the European Union in either category.

“Tariffs go into effect Aug. 1 but the president is setting the rates and the deals right now,” Lutnick said alongside Trump.

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