President Donald Trump's administration says higher rates will go into effect Aug. 1. Here's where trade negotiations stand.

"The big money will start coming in on Aug. 1, I think that was made clear today," Trump told reporters. He then turned to Treasury Secretary Scott Bessent, who estimated that the United States could collect more than $300 billion in tariff revenue by the end of the year,

"We're going to send some more weapons – we have to. They have to be able to defend themselves," Trump said of Ukraine July 7.

President Donald Trump said July 7 that the United States would send more defensive weapons to Ukraine, adding that he was “not happy” with his Russian counterpart.