By Lehlohonolo Lehana.
The United States (US) reciprocal tariff deadline for August 1, 2025 will not be extended, Commerce Secretary Howard Lutnick has confirmed.
“So no extensions, no more grace periods. August 1, the tariffs are set. They’ll go into place. Customs will start collecting the money, and off we go,” Lutnick told Fox News.
Donald Trump delayed the so-called “reciprocal tariffs” in April, vowing then to strike roughly 90 trade deals in 90 days. For his part, the president has insisted that the on-again, off-again levies make up a key part of his negotiation strategy.
The tariffs resemble levies that were placed on more than 90 countries on April 2. Those reciprocal tariffs were delayed hours after they took effect, when the stock market reacted with its worst single-day performance since the COVID-19 pandemic.
Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1.
Lutnick comments still raise questions about what a “good enough” deal with the United States’ largest trading partner would look like at a pivotal time for trade negotiations.
Trump is set to hold trade talks with the president of the European Commission, Ursula von der Leyen, days before the deadline for tariffs to take effect.
As Trump has threatened to impose 30% tariffs on the EU, the bloc has weighed counter measures, such as using its “Anti-Coercion Instrument,” a move that has been seen as the trading bloc’s “trade bazooka.”
Such a move could hinder U.S. vendors participation in the EU market.
Thus far five countries have struck deals with the Trump administration ahead of the Friday deadline as it tries to overhaul the global system of largely free trade by slapping tariffs on countries that the United States deems as engaging in unfair practices.
These five are Britain, Vietnam, Indonesia the Philippines, and Japan.
Meanwhile Trade, Industry and Competition Minister Parks Tau has emphasised the work being done by his department to ensure South Africa maintains its competitive position in the global trading arena.
Tau said the Department of Trade, Industry and Competition (dtic) had been in discussions with the US.
Having submitted a Framework Deal in May, Tau pointed out that the dtic had signed a conditions precedent document with the office of the US Trade Representative as a precursor to the finalisation of the negotiations.
Tau said this work was proceeding while South Africa continued to explore and strengthen other global markets and transform its role in global trade to ensure it moved beyond being a mere exporter of goods to becoming a creator of value, a regional connector, and a catalyst for shared prosperity, with Africa at the centre of global trade.