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,

President Trump's protectionist trade policies are reshaping the global economy as the U.S. imposes tariffs on various countries. Agreements with the EU and Japan involve tariffs and investment commitments,

Japanese automakers gained some relief after Trump announced a drop in U.S. import tariffs from 25% to 15% on Japan-made vehicles. But analysts say the move offers little comfort as the industry grapples with long-term structural problems and China’s aggressive rise.

Trump’s statement comes a day after he announced a trade deal with the EU, which would see a 15 per cent tariff imposed on most European goods being exported to the U.S.

As Trump eyes an Aug. 1 deadline for countries to come to trade deals or face the tariffs that he originally announced in April, he has touted the agreements he has made in recent days — while maintaining that it would be difficult to meet with all world leaders.

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.

The Trump administration, known for its aggressive pro-crypto policy, already holds the most Bitcoin among all the countries — around 200,000 BTC. However, the administration has dropped no hint of using tariff revenue to acquire more crypto assets to add to its treasury.

That statement came some 12 hours after Trump announced an agreement Sunday with the European Union that would see a 15% tax paid on products brought into the United States from the bloc. The E.U. also agreed to spend $750 billion on energy purchases from the U.S., while investing an additional $600 billion here.