Starting August 1: President Donald Trump will likely impose another round of tariffs, with rates up to 50 percent, on Friday.
Some of these rates were announced on "Liberation Day" in April, then paused for 90 days until July 1, then paused another month, possibly to give countries more time to negotiate deals. To make matters more confusing, some countries have negotiated a later effective-by date (like China, which will incur new tariff levels starting August 12).
Some deals seem pretty set: "European capitals are putting a brave face on the trade deal they struck with President Donald Trump, which will see the European Union accept a 15% tariff on most of its exports to the US while reducing levies on some American products to zero," reports Bloomberg. But, of course, this is somewhat worse than the status quo before Trump took office: Trade barriers between the E.U. and U.S. were…next to nonexistent, so the 15 percent tariff only looks good if you're anchored by Trump's threats.
