US Secretary of Commerce: Tariffs will take effect on August 1st

BlockBeats News: On July 7th, Trump announced on Sunday that he had reached some trade agreements with trading partners and would send letters to other countries notifying them that tariff rates would be increased. US Commerce Secretary Lutnik told reporters that higher tariffs will take effect on August 1st, but Trump is currently working on tariff rates and agreements. In April of this year, Trump announced a basic tariff of 10% on most countries, as well as additional tariffs of up to 50%, although he later postponed the effective date of tariffs on all countries to July 9th (except for the 10% tariff). Lutnik's remarks hinted at a three week suspension of tariffs. US Treasury Secretary Besson has previously made similar statements, stating that countries that have not reached an agreement will face tariffs starting from August 1st, but denying that date as a "new deadline". (Golden Ten)