Trump deciding trade deals by August 1: Lutnick | Australian Markets

US President Donald Trump will make his trade deal choices this week whilst separate negotiations with China and the European Union proceed, US Commerce chief Howard Lutnick says forward of Trump’s self-imposed August 1 deadline.

US and EU officers have been nonetheless discussing metal and aluminium tariffs in addition to digital providers laws following their framework introduced on Sunday, Lutnick instructed CNBC in an interview, including that talks with China have been additionally “their own thing”.

“But for the rest of the world, we’re going to have things done by Friday,” he stated within the interview.

Asked about remaining uncertainties surrounding the US-EU settlement, Lutnick stated Trump was working “to get things done now”.

.@POTUS: “We just signed a very big deal, as you know, with the European Union, but also with the United Kingdom … A great deal for the country.” pic.twitter.com/cBXNGjhBA9— Rapid Response 47 (@RapidResponse47) July 29, 2025

He stated prescribed drugs have been a key half of the EU deal in order that medicines made in EU member international locations – home to a number of main drug makers – would have their merchandise included within the 15 per cent tariff.

“It was important for them to have pharmaceuticals be part of the deal at 15 per cent because President Trump is going to come out in the next two weeks with his pharmaceutical policy, and it is going to be higher,” he stated.

South Africa’s trade ministry stated on Tuesday that it nonetheless needed to barter a trade deal with the United States, earlier than a 30 per cent tariff on its exports to the US is because of kick in on Friday.

South Africa’s authorities has been tight-lipped about its negotiations with the US administration forward of the August 1 deadline, which comes as the 2 international locations’ relationship has deteriorated over South Africa’s home race coverage and its genocide case towards Israel, which Israel denies.

In a assertion, the trade ministry stated it was nonetheless ready for “substantive feedback from our US counterparts on the final status on our framework deal”.