Standing beside him, U.S. Commerce Secretary Howard Lutnick interjected to clarify that while July 9 remains the date for trade agreements to be agreed upon, the higher tariffs are not scheduled to go into effect until August.
“They go into effect on Aug. 1. Tariffs go into effect Aug. 1, but the President is setting the rates and the deals right now,” Lutnick said.
The three-week extension, of sorts, allows countries a slight reprieve as they prepare for the tariffs agreed upon with Trump.
