The U.S. government, led by President Donald Trump and Commerce Secretary Howard Lutnick, has confirmed that sweeping new tariffs on dozens of countries will take effect on August 1, with no further extensions or grace periods. The administration is using the threat of steep tariffs—up to 50% on some imports—as leverage to secure more favorable trade deals, particularly with the European Union and other major partners. Recent agreements with Japan and several other countries have set a precedent, but negotiations with the EU remain tense as the deadline approaches. U.S. officials insist that the quality of trade deals is more important than speed, but the hard deadline is intended to pressure trading partners into making concessions. The move marks a significant escalation in global trade tensions, with potential impacts on prices, economic growth, and international relations.
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