Ahead of Thursday's executive order, Trump brokered agreements with the United Kingdom, Indonesia, Vietnam, the Philippines, Japan, the European Union and South Korea. The White House also reached a preliminary accord with China that lowered tit-for-tat tariffs previously imposed by the world's two largest economies.

In a Truth Social Post, the U.S. president linked Canadian Prime Minister Mark Carney's announcement that his country would recognize Palestinian statehood to the negotiations with Ottawa to stop a 35% tariff from going into effect at 12:01 am ET on Aug.