Overview

• Commerce Secretary Howard Lutnick affirmed the August 1 deadline is final, ruling out further grace periods for trade partners.
• Customs and Border Protection will immediately begin collecting duties under the resumed tariff schedule, which starts at a 10% baseline and can rise for nations without agreements.
• Five countries—Britain, Vietnam, Indonesia, the Philippines and Japan—have secured pre-deadline pacts to cap or reduce incoming levies.
• The newly announced EU accord sets tariffs on European imports at 15% and includes commitments to buy $750 billion in U.S. energy and invest $600 billion more in American goods.
• President Trump remains open to new talks after the duties kick in, keeping diplomatic channels active with remaining partners.