Commerce Secretary Confirms New Tariffs Effective August 1
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Commerce Secretary Howard Lutnick has officially announced that the new tariffs will take effect starting August 1. The decision, confirmed during a press briefing, marks a significant shift in trade policy aimed at addressing economic imbalances and protecting domestic industries. Lutnick emphasized that the tariffs are designed to foster fair competition and support local businesses, though critics warn of potential price increases for consumers. The administration has yet to release a detailed list of affected goods, but further updates are expected in the coming weeks. Analysts are closely monitoring the situation for its potential impact on global trade dynamics.
