New Delhi, July 27 -- US Commerce Secretary Howard Lutnick on Sunday reaffirmed that the Biden administration's August 1 deadline for imposing new tariffs on key trading partners, including the European Union, is non-negotiable, warning that customs officials will begin collecting duties from that date.

"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 on Sunday, signaling the administration's firm stance on the trade front.

The European Union is under increasing pressure to offer significant market access to US exports in order to avoid the planned 30% tariffs. While negotiations are ongoing, Lutnick emphasised t...