The president is set to raise taxes on imports arriving from many countries, including Canada and Mexico. That’s on top of the tariffs that the White House has already announced on specific products,

The Trump administration’s trade deal with China that sharply lowered the tariff rate on Chinese imports is expected to be extended past its Aug. 12 deadline, Treasury Secretary Scott Bessent predicted Tuesday, though he maintained higher tariff rates on other countries’ imports are still slated to take effect Aug. 1 as scheduled.

The United States and China have extended their tariff truce by another 90 days as trade negotiations continue in Stockholm, with both nations committing to not impose additional tariffs or escalate the trade war.

The Stockholm meeting — following similar talks in Geneva and London in recent months — is set to extend a 90-day pause on those tariffs. During the pause, U.S. tariffs were lowered to 30% on Chinese goods, and China set a 10% tariff on U.S. products.

As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.

Some commodities have also been subject to individual tariffs. Trump recently announced a 50% tariff on copper imports, effective from 1 August. Steel and aluminium imports are already subject to a 50% tariff from most countries, though in the UK’s case this is 25%.

The head of Eurasia Group’s China sees signs the two countries are trying to patch things up to facilitate a meeting between President Donald Trump and China’s Xi Jinping.

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