US President Donald Trump suggested that he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising.

Trump said on Wednesday that he will only lower tariffs if countries agree to open their markets to U.S. businesses, pointing to fresh agreements with Japan and Indonesia that he claimed mark a historic shift in bilateral trade dynamics.

U.S. President Donald Trump has created a lot of leverage on trade with his letters on tariff rates, U.S. Treasury Secretary Scott Bessent told Bloomberg Television in an interview on Wednesday.

President Donald Trump on Thursday said the U.S. will not be pulling its subsidies of Elon Musk’s companies, despite earlier threats to do so and White House press secretary Karoline Leavitt’s Wednesday indication that the U.

President Donald Trump says the US has agreed to a "massive" trade deal with Japan, one of the country's largest trading partners. Japan has agreed to invest $550bn (£407bn) in the US while its goods sold to America would be taxed at 15% when they reach the country - below the 25% tariff Trump had threatened.

It is the most significant of a clutch of agreements Trump has bagged since unveiling sweeping global levies in April, though like other deals, exact details remained unclear.