Chinese state media reported Tuesday that the country would increase its tariffs on the United States if President Donald Trump sidelines the country in trade deals with other countries. The country argues that if the U.

For many countries, the reprieve from President Donald Trump’s eye-watering tariffs, which were implemented on April 2 and temporarily reduced to 10% a week later, is now set to come to an end on August 1.

As part of President Donald Trump’s “Liberation Day” efforts, Vietnamese businesses importing American goods will not have to pay taxes to import these goods. On the other hand, American businesses importing Vietnamese goods will have to pay taxes of 20% to 40%.

Countries across Asia are rushing to agree better trade terms with the US after President Donald Trump shifted his tariff deadline to Aug. 1 and tweaked the rates he’s set for many economies. South Korea said it will fix rules and regulations to address US demands to lower non-tariff barriers.

Japan demanded concessions for its large automobile industry, while South Korea said it planned to intensify trade talks over the coming weeks "to reach a mutually beneficial result."