Trump said Monday he “may give a lot of countries breaks” and his plans are “reciprocal, but we may be even nicer than that,” signaling the U.S. may not even match the tariff rates American goods face abroad.

A new round of sector-specific tariffs that were also expected to be unveiled on that date, which Trump has labeled “Liberation Day,” are likely to be delayed, according to recent comments from presidential aides.

Wide-reaching tariffs that will hit America's largest trading partners are set to go into effect next week in a move that could set off trade wars.