U.S. Tariff Deadline Approaches as Negotiations Continue

According to BlockBeats, U.S. Commerce Secretary Howard Lutnick stated in a CBS News interview that August 1 is the deadline for countries to begin paying tariffs to the United States. However, he emphasized that negotiations can continue beyond this date. Lutnick disclosed that smaller nations, including those in Latin America, the Caribbean, and many African countries, will face a 10% baseline tariff. This announcement may provide some relief, as U.S. President Donald Trump had previously suggested that the baseline rate could exceed 10% for these countries. Lutnick also noted that larger economies have two options: either open their markets to the United States or pay fair tariffs.