Tariffs

As Aug. 1 Tariff Deadline Arrives, Here Are the Trade Deals Reached so Far

The U.S. has reached deals with EU, UK, South Korea, Japan, and others, while countries that haven’t struck deals will be hit with higher tariffs.
As Aug. 1 Tariff Deadline Arrives, Here Are the Trade Deals Reached so Far
President Donald Trump (L) greets Philippine President Ferdinand Marcos Jr. at the White House on July 22, 2025. Win McNamee/Getty Images
Andrew Moran
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A few hours before the long-awaited Aug. 1 deadline, President Donald Trump implemented new tariff regimes for dozens of countries worldwide.

The White House introduced a universal tariff of 10 percent for foreign goods entering the United States. This baseline levy will apply to countries with which the United States exports more than it imports, also known as a trade surplus.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."