The U.S. stock market has shown relief the tariff rates aren’t as high as Trump initially threatened in April and hope for a sense of stability going forward. Trump maintains the tariff revenues will whittle down the budget deficit and help whip up domestic factory jobs, all while playing down the risks of higher prices.

U.S. President Donald Trump says he's struck tariff deals with the Philippines and Japan. But some on Wall Street are still wary as the August 1 deadline for other countries to reach a deal with the U.

Donald Trump plans new import tariffs from August 1. A study says this may hurt US manufacturers. Costs could rise by 2% to 4.5%. This may lead to wage stagnation or layoffs. Trump says tariffs will boost US manufacturing.

Trump's global tariff policy marks a lasting shift toward economic nationalism, aiming to boost U.S. manufacturing and pressure nations into favorable trade deals.

The new rate is higher than what Trump had threatened when he first unveiled sweeping global tariffs in April.

Iraq’s rate also fell to 30%, from 39% in April, and Moldova’s tariff level was reduced from 31% to 25%. The Philippines’ tariff, by contrast, rose from 17% on April 2 to 20%.

A new analysis suggests factory costs because of President Donald Trump's tariffs and trade policies could increase by about 2% to 4.5%.