No more grace periods: US on August 1 deadline for tariff payments
US Commerce Secretary Howard Lutnick said that the August 1 deadline for imposing tariffs on its trading partners remains unchanged. "No extensions, no more grace periods. On August 1, the tariffs are set. They'll go into place. Customs will start collecting the money," he said. Notably, President Donald Trump has announced tariffs ranging between 25% and 40% for 14 nations.