Dozens of countries will face higher tariffs on their exports to the U.S. following Trump's signing of an executive order.

There will be no more extensions on tariff deadlines, and they will go into force as scheduled on August 1, Commerce Secretary Howard Lutnick said Sunday. Why it matters: Since January, the world has gotten accustomed to President Trump announcing tariffs and then reversing them,

President Donald Trump announced a new trade deal with South Korea, which calls for 15% tariffs on goods from there.