Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.

U.S. Secretary of Commerce Howard Lutnick testifies before a House Appropriations Committee hearing on U.S. President Donald Trump's budget request for the Department of Commerce, on Capitol Hill in Washington,

President Donald Trump’s threat to impose 30% tariffs on the European Union starting Aug. 1 disrupted negotiations and risks damaging a crucial trade relationship.

Instead of viewing tariffs as part of a broader trade policy, President Trump sees them as a valuable weapon he can wield on the world stage.