T rump’s so-called reciprocal tariffs are scheduled to go into effect on August 1 after a 90-day delay—just as American families begin back-to-school shopping—and could hike up the cost of consumer goods imported from other countries.

US President Donald Trump has indicated that he will not go below a 15% rate as he sets his “reciprocal” tariffs on US trading partners, a sign that the floor for these increased levies is rising. This latest pronouncement adds another layer of complexity to the administration’s chaotic trade war,

European Commission President Ursula von der Leyen announced that she is to meet with US President Donald Trump on Sunday in Scotland. The meeting would come days ahead of August 1, when Trump said we would impose tariffs of 30% on imports from the European Union for alleged trade imbalances.