CoinVoice has recently learned that, according to Jinshi News, U.S. Secretary of Commerce Howard Lutnick stated during an interview with CBS News last Sunday that August 1 is the deadline for countries to start paying tariffs to the U.S., but emphasized that "countries can continue to negotiate with the U.S. after August 1."

Lutnick revealed that some small countries—Latin American countries, Caribbean countries, and many African countries—"will be subject to a baseline tariff of 10%." This statement may relieve some pressure on these countries, as Trump had previously hinted that the baseline tariff rate for these countries could exceed 10%. However, he also stated, "Larger economies have two choices—either open their markets to the U.S. or pay fair tariffs." [Original link]