US Confirms No Extension to August 1 Tariff Deadline; Trump Awaits EU Trade Deal
New Delhi, July 27 (TheTrendingPeople): The United States has confirmed that the deadline of August 1 for imposing reciprocal tariffs remains unchanged, firmly ruling out any possibility of an extension. This announcement was made by US Commerce Secretary Howard Lutnick during a televised interview on Fox News Sunday.
“No extensions, no more grace periods. August 1, the tariffs are set. They'll go into place. Customs will start collecting the money, and off we go,” Lutnick asserted, indicating a hardline stance on the tariff implementation timeline.
The US has proposed a 30% tariff rate on a broad range of goods, particularly targeting European Union (EU) exports. According to Lutnick, if the EU wants the United States to reconsider or reduce the tariff burden, it must provide a compelling trade agreement in return.
President Trump Holds the Key to Relief
“The question is, do they offer President Trump a good enough deal that is worth it for him to step off the 30% tariffs that he set,” Lutnick explained. He added that the outcome now depends entirely on the negotiations and the quality of the EU’s counteroffer.
“You know they're hoping they make a deal, and it's up to President Trump, who's the leader of this negotiating table. We set the table,” he said, emphasizing Trump’s central role in shaping the US’s final decision.
High-Level Talks Underway Between US and EU
As tensions rise, European Commission President Ursula von der Leyen is scheduled to meet President Trump this week in a last-ditch effort to clinch a trade deal. Sources suggest that the EU might agree to a 15% baseline tariff on most of its exports to avoid the harsher 30% tariff.
Meanwhile, US Trade Representative Jamieson Greer and Commerce Secretary Lutnick traveled to Scotland over the weekend to meet EU Trade Commissioner Maros Sefcovic. Talks reportedly focused on ironing out key sticking points that have stalled a resolution.
Five Nations Have Already Secured Deals
While negotiations with the EU continue, five countries have already signed trade agreements with the US in advance of the August 1 deadline. These include the United Kingdom, Vietnam, Indonesia, the Philippines, and Japan. These countries are now exempt from the steep tariff structure that will apply to non-signatory nations.
India-US Trade Talks Still In Limbo
Interestingly, while India has recently accelerated its trade pacts—most notably with the UK—a comprehensive deal with the United States remains elusive. Despite multiple rounds of discussions and ongoing back-channel negotiations, the much-anticipated agreement between Washington and New Delhi has yet to materialize.
Industry analysts believe that if the EU successfully secures a last-minute deal, it may set a precedent or framework for India to finalize its own agreement with the US in the near future.
As the August 1 deadline draws closer, all eyes remain on the Trump administration and the outcome of high-stakes negotiations with the EU.