Trump set the benchmark tax rate at 10% before the deadline.

Jin10 reported on August 1 that the White House stated on Thursday that President Trump will maintain the global minimum tariff rate at 10%, disregarding previous suggestions to raise the minimum rate to 15% or higher. The White House also released a list of tariff rates for other trading partners with whom the U.S. has yet to finalize trade framework negotiations, as the August 1 deadline approaches. Additionally, Trump signed a separate executive order to raise the tariff rate on Canada from 25% to 35%, with the higher rate taking effect on August 1. This change does not include the goods covered by the United States-Mexico-Canada Agreement negotiated during his first term.