As President Donald Trump’s August 1 deadline for imposing tariffs on countries across the globe nears, his administration has been busy negotiating and announcing new trade deals.
Trump’s “Liberation Day” tariffs, which were initially supposed to go into effect in April, were delayed until the beginning of August, giving America’s trading partners and the president’s trade team more time to come to the negotiating table and hash out deals. The deadline extension paid off for some countries that have secured lower tariff rates than those Trump initially announced.
The deals have also resulted in promises of investments worth billions of dollars in the U.S. economy over the next few years.
Here are the countries that have worked out a deal with Trump:
United Kingdom
President Trump, alongside trade representatives from the United Kingdom, announced a trade agreement on May 8, giving the United States more access to the British market while boosting both nations’ industrial bases and steel industries. Under the deal, the United Kingdom will still pay a 10% tariff on most goods exported to the United States.
The deal will also allow the United Kingdom to export up to 100,000 vehicles to the United States for a 10% tariff and export Rolls-Royce engines and airplane parts to the United States tariff-free. The United Kingdom promised to purchase $10 billion worth of Boeing airplanes from the United States.
European Union
Earlier this week, Trump announced that he had secured the “biggest of all” trade deals with the European Union. Under the agreement, the European Union will pay a “straight across” 15% tariff for most exports, including vehicles. The 15% rate is a major cut to the 30% tariff that the 27-member bloc was facing from Trump’s initial announcement in April.
The European Union also agreed to purchase $750 billion worth of energy from the United States and invest an additional $600 billion in the U.S. economy.
“We have a trade deal between the two largest economies in the world — and it’s a big deal. It’s a huge deal. It will bring stability. It will bring predictability. That’s very important for our businesses on both sides of the Atlantic,” said European Commission President Ursula von der Leyen.
Japan
In what President Trump said was “perhaps the largest Deal ever made,” Japan agreed to invest more than $500 billion in the United States while paying a 15% reciprocal tariff to export goods to America, which is lower than the original 25% tariff that Trump had planned. The deal will also lower the tariff on Japanese auto exports to the United States, bringing the rate down to 15%.
Trump said that the most important part of the deal was Japan agreeing to open its markets to American-made vehicles, rice, and agricultural products.
“This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan,” Trump said.
Pakistan
On Wednesday, Trump announced a deal with Pakistan that involves developing the country’s massive oil reserves and lowering the tariff rate that Trump had previously planned to impose. While Trump has not revealed the specifics of the deal, Pakistan said it “marks the beginning of a new era of economic collaboration, especially in energy, mines and minerals, IT, cryptocurrency and other sectors.”
Indonesia
Last week, Trump revealed details of a major trade deal with Indonesia, the fourth most populous nation in the world. According to Trump, the agreement wipes out “99%” of Indonesia’s trade barrier, opening the market for American-made products. The United States will pay no tariff to export products to the Southeast Asian country, while Indonesia will pay a 19% tariff rate on goods it sends to the United States.
The president also said that Indonesia agreed to “supply the United States with their precious Critical Minerals, as well as sign BIG Deals, worth Tens of Billions of Dollars, to purchase Boeing Aircraft, American Farm products, and American Energy.”
While Indonesia will pay a 19% tariff on most products, a Trump administration official told reporters that products made in Indonesia containing a certain percentage of materials from nonmarket economies such as Russia, China, and Vietnam would be hit with a 40% tariff, The New York Times reported.
South Korea
On Wednesday, Trump unveiled yet another trade deal — this one with U.S. ally, South Korea. As part of the deal, South Korea will “give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President,” according to Trump. South Korea also agreed to purchase $100 billion worth of American energy products.
Trump added that South Korean markets will be “completely open to trade” with the United States, while South Korea will pay a 15% tariff to gain access to U.S. markets. The 15% rate is lower than the 25% tariff that Trump had initially planned to impose on South Korea.
Vietnam
At the beginning of July, Vietnam reached a preliminary agreement with the Trump administration to open up its market to U.S. goods and pay a 20% tariff on exports to the United States. Vietnam faced a massive 46% tariff in Trump’s first announcement. For “transhipped” goods — products that are channeled through Vietnam by countries like China to circumvent trade restrictions — Vietnam will pay a 40% tariff.
Trump said that he believes American automakers will thrive in the Vietnamese market. “It will be a Great Deal of Cooperation between our two Countries,” he said.
Philippines
Similar to the deal with Indonesia, the trade agreement with the Philippines will see the island country pay a 19% tariff to gain access to U.S. markets, while American goods will enter the Philippines tariff-free, according to Trump. The president said last week that the two countries “concluded” a trade deal after a “beautiful visit” from President Ferdinand Marcos Jr. of the Philippines.
The agreement was reached after a round of “tough” negotiations from Marcos.
“He’s a very tough negotiator,” Trump said in the Oval Office one day before a deal was reached. “He’s negotiating too tough. In fact, I used to like him better than I do now. … But we’ll probably agree to something.”
Thailand
Commerce Secretary Howard Lutnick announced on Wednesday night that Thailand had reached a trade agreement with the United States, but did not provide specifics. Under Trump’s initial “Liberation Day” tariffs announcement, Thailand faced a 36% tariff.
After fighting broke out between Thailand and Cambodia last week, Trump threatened not to enter into a trade deal with either country until the fighting ended. Thailand and Cambodia reached a ceasefire agreement that went into effect at midnight on Monday.
Cambodia
Lutnick said on Wednesday that Cambodia has also reached a trade deal with Trump following its ceasefire agreement with Thailand. Cambodia also faced a 36% tariff under Trump’s “Liberation Day” announcement.
The three biggest U.S. trading partners have yet to reach an agreement with Trump.
While the Trump administration has seen some success in getting numerous countries to agree to trade deals, Trump’s trade officials are still seeking to convince major U.S. trading partners to agree to their terms.
China
The Trump administration agreed to push back an already extended deadline for trade talks, moving the date to August 12 as the countries continue to negotiate. Earlier this week, both sides said they held “constructive” talks in Stockholm, according to Treasury Secretary Scott Bessent.
The United States and China traded reciprocal tariff blows before agreeing in May to walk back from triple-digit tariff rates. The countries also agreed to a deal to restart rare earth element shipments to the United States, with exports surging in June.
Trump is scheduled to be briefed on the China trade talks on Thursday, sitting down with Bessent and U.S. Trade Representative Jamieson Greer, CNN reported.
“I believe we have the makings of a deal,” Bessent told CNBC Thursday morning. “Myself and Ambassador Greer will be speaking to President Trump today about whether we’ll extend the August 12 deadline. We have a few details to work out. I’m confident it’ll be done … but it’s not 100% done.”
Canada
America’s neighbor to the north has yet to come to terms with the Trump administration, and President Donald Trump said on Thursday morning that Canada’s announcement that it intends to back a Palestinian state “will make it very hard for us to make a Trade Deal.” The tariff rate on many Canadian goods is set to rise to 35% if no trade deal is reached.
Mexico
Trump announced on Thursday that he would again extend the deadline for imposing 30% tariffs on Mexico for another 90 days.
“The complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border,” the president said after talking to Mexican President Claudia Sheinbaum over the phone. During the extension, “Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper,” Trump said.
White House Press Secretary Karoline Leavitt said on Thursday that countries that have not reached a deal with Trump “will be hearing from this administration by the midnight deadline tonight.”
“Tomorrow, August 1, the reciprocal rates will be going into effect,” she added. “If more deals are cut between now and midnight, I will never count out the president. You’ve seen him do it before.”
Tim Pearce, Leif Le Mahieu, and Sam Korkus contributed to this report.