President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.

The Trump administration could send more tariff letters or reach new trade agreements before the start of August, White House Press Secretary Karoline Leavitt said Monday. That's when the pause on Trump's so-called reciprocals tariffs are set to expire.

The make-or-break talks head off trade penalties that could have sent shock waves through economies around the globe.

The Philippines has agreed to a trade deal with the United States that will lower U.S. tariffs on its exports to 19 percent, President Trump announced Tuesday following a meeting with the Philippine president,

National Economic Council Director Kevin Hassett defended Donald Trump’s newly unveiled 50% tariff against Brazil on ABC News' "This Week."

In a research note, Deutsche Bank analysts contradicted the White House’s assertions that foreign exporters are on the hook for Trump’s tariffs.

The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.

President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday. Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands including Audi, Lamborghini and Porsche.