President Trump outlined details of the framework trade deal with the EU, mentioning a small tariff on pharmaceuticals that will increase significantly over the next one to one and a half years.
On Sunday, US Commerce Secretary Howard Lutnick emphasized the importance of the August 1 deadline, stating, "No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place." This statement underscored the urgency and finality of the negotiation process.