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,

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

In what was considered a significant win for Japanese automakers a few days ago, President Trump’s trade deal with the Eastern nation resulted in reduced tariffs on imported Japanese vehicles. The new 15% tariff is significantly lower than what it was,

The agreement is a major step in Trump's plan to shake up global trade, which he says was weighted against America.

"The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold."

The 15% tariff would be lower than previously threatened but remains a high duty on America’s largest trading partner.

President Donald Trump announced July 27 the United States had reached a trade deal with the European Union, days ahead of a self-imposed Aug. 1 deadline. Trump met with the EU's president, Ursula von der Leyen, during his trip to Scotland over the weekend, where the pair discussed terms and came to an agreement.

Secretary of Commerce Howard Lutnick said President Donald Trump’s Aug. 1 tariff deadline would not change. Tariffs on dozens of countries are set to go into effect this Friday, Aug. 1. Since becoming president,