US: "No extension of negotiations… Tariffs imposed on August 1"

"Negotiations possible after tariffs take effect"

Howard Lutnick, the U.S. Secretary of Commerce, has declared that the reciprocal tariffs that will take effect suddenly on August 1 are a 'non-negotiable deadline.' However, he stated that it will still be possible to negotiate tariffs with foreign countries even after the tariffs come into force.

On the 20th (local time), during a CBS interview, Secretary Lutnick was asked whether the reciprocal tariffs could be deferred again, to which he replied, "No. That is a strict deadline." He further added, "New tariff rates will apply on August 1, but foreign countries can still negotiate with us afterward." These remarks are interpreted to mean that, beginning August 1, President Trump will impose newly set tariff rates on South Korea (25%), Japan (25%), and the European Union (EU·30%) via so-called 'tariff notices,' and that negotiations will continue even if a new trade agreement has not yet been reached.

Secretary Lutnick also said that various small countries in Latin America, the Caribbean, and Africa would be subject to a basic tariff rate of 10%. He emphasized, "Countries with large economies will negotiate on the condition that they open their own markets or pay fair tariffs to the United States so as not to treat the U.S. unfairly."

Dong-Hyun Kim, 3code@hankyung.com