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 recent trade agreement between President Donald Trump and Japan, reducing import tariffs on Japanese vehicles from 25% to 15%, offers a mixed blessing for Japanese automakers. While it provides some relief,

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.

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.

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.

Outside economists say that high tariffs are still likely to raise prices for American consumers, dampen the Federal Reserve’s ability to lower interest rates and make the U.S. economy less efficient over time. Democrats say the middle class and poor will ultimately pay for the tariffs.

President Trump and European Commission President Ursula von der Leyen announced Sunday that the US and EU had agreed to the framework of a trade deal that included a baseline tariff rate of 15% on EU goods imported into the US.