(Daily Signal)—Secretary of Commerce Howard Lutnick confirmed on “Fox News Sunday” that there will be no more “grace periods” come the Aug. 1 tariffs deadline.
President Donald Trump‘s tariffs are set to take kick in Friday, when “customs will start collecting the money,” Lutnick said.
“Obviously, after August 1st, people can still talk to President Trump. I mean, he is always willing to listen. And, between now and then, the president’s going to talk to a lot of people,” Lutnick added. “Whether they can make him happy is another question, but the president’s definitely willing to negotiate and talk to the big economies, for sure.”
A recent Fox News poll revealed that people were disenchanted with Trump’s handling of the economy, inflation and tariffs, fearing that tariffs might increase their daily and personal expenses. However, Lutnick shared a positive outlook on Trump’s tariff policy, describing the situation as “fantastic” and predicting a revenue of about $1 trillion.
“What’s going to happen is very few products are actually going to move their price, and basically $700-$800 billion [will be collected]. Maybe, it’s possible that we get near a trillion dollars of revenue that will come into the United States of America, reducing our deficit,” Lutnick explained.
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