Commerce Secretary Lutnick has reiterated that August 1st is the 'hard deadline' for President Trump's proposed 'reciprocal' tariffs. While the deadline has shifted since its initial announcement on April 2nd, White House officials are now emphasizing the firmness of the August 1st date. The tariffs, intended to be 'reciprocal' in nature, would potentially impose equivalent duties on goods from countries that levy tariffs on U.S. exports. The implications of these tariffs on global trade and the U.S. economy remain a subject of considerable debate among economists and trade experts.