US Commerce Secretary Howard Lutnick said that higher tariffs would take effect on August 1, but noted that President Donald Trump was "setting the rates and the deals right now." Trump and Lutnick, speaking with reporters on Sunday, were asked to clarify the timing of the new tariffs. "Tariffs go into effect August 1," Lutnick stated in response. President Trump added that some trade deals had already been made with key partners and that official letters would be sent to other countries to notify them of the higher tariff rates. Earlier, Treasury Secretary Scott Bessent told CNN that tariffs would revert to April 2 levels on August 1 if no progress is made on signing a trade agreement with the US. Trump’s initial 90-day reprieve on the April “reciprocal” tariffs for most US trading partners was set to expire Tuesday. Meanwhile, a separate deadline for reaching a deal with the European Union—before EU goods are subjected to duties of up to 50% - was set for Wednesday.