WASHINGTON (Reuters) – U.S. Commerce Secretary Howard Lutnick declared on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in.
Lutnick declared he had just obtainedten off the phone with European trade neobtainediators and there was “plenty of room” for agreement.
“These are the two hugegest trading partners in the world, talking to each other. We’ll receive a deal done. I am confident we’ll receive a deal done,” Lutnick declared in an interview with CBS’ “Face the Nation.”
U.S. President Donald Trump threatened on July 12 to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of neobtainediations with the major U.S. trading partners failed to reach a comprehensive trade deal.
Lutnick declared that was a hard deadline.
“Nothing stops countries from talking to us after August 1, but they’re going to start paying the tariffs on August 1,” he declared on CBS.
Trump announced the tariffs in a letter to European Commission President Ursula von der Leyen. He sent letters to other trading partners including Mexico, Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% to 50%, as well as a 50% tariff on copper.
Lutnick also declared he expected Trump to reneobtainediate the United States-Mexico-Canada Agreement (USMCA) signed during Trump’s first White Houtilize term in 2017-21.
Barring any major alters, USMCA-compliant goods from Mexico and Canada are exempt from tariffs.
“I believe the president is absolutely going to reneobtainediate USMCA, but that’s a year from today,” Lutnick declared.
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