Japan

On Saturday, President Trump threatened to impose 30% tariffs on Mexico and the European Union starting on August 1. The announcement came after a string of new tariff threats last week.

On Monday, 14 countries received letters indicating tariff increases of 25% to 40%, including Japan and South Korea. Meanwhile, President Trump extended the implementation date for those tariffs to Aug. 1

After China retaliated with its own tariffs, the U.S. said on Tuesday that 104% duties on imports from China would take effect shortly after midnight, even as the Trump administration moved to quickly start talks with other trading partners targeted by Trump’s sweeping tariff plan.

The Office of the U.S. Trade Representative’s latest report shows top U.S. wheat importers could see a shake-up if trade barriers aren’t addressed.

The U.S. and Japan signed a limited trade deal intended to boost markets for American farmers and give Tokyo assurances, for now, that President Donald Trump won’t impose tariffs on auto imports.