President Trump also sent tariff letters to many countries informing them of their new reciprocal tariff rates, which will take effect on August 1. President Trump took these actions based on information and recommendations from senior officials, including information on the status of trade negotiations.

China. China and the U.S. reached a deal in June that sets U.S. tariffs on Chinese imports at 55% and Chinese tariffs on American imports at 10%, after agreeing to a truce a month earlier that lowered escalating tit-for-tat tariffs from 145% on Chinese imports to 30% and 125% on American imports to 10%.