The president is set to raise taxes on imports arriving from many countries, including Canada and Mexico. That’s on top of the tariffs that the White House has already announced on specific products,

Japanese automakers received a temporary reprieve this week when U.S. President Donald Trump announced a cut to import tariffs on Japan-made vehicles, reducing the rate from 25% to 15%. But industry experts warn the move offers little comfort as Japanese brands face intensifying competition from China and structural economic hurdles at home.

That statement came some 12 hours after Trump announced an agreement Sunday with the European Union that would see a 15% tax paid on products brought into the United States from the bloc. The E.U. also agreed to spend $750 billion on energy purchases from the U.S., while investing an additional $600 billion here.

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

The recent trade agreement between President Donald Trump and Japan, reducing import tariffs on Japanese vehicles from 25% to 15%, offers a mixed blessing for Japanese automakers. While it provides some relief,

Japanese automakers breathed a sigh of relief after U.S. President Donald Trump finalized a trade agreement last week. However, the relief is tempered by intensifying competition, especially from China,

U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports and spares Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans.

US President Donald Trump's approach to global trade policy is yielding results with international partners. Nations including the European Union, Japan and Vietnam are accepting elevated tariffs for access to American markets.

Trump’s protectionist moves likely to keep pushing countries to lessen their reliance on the US, analysts say.

The Trump administration, known for its aggressive pro-crypto policy, already holds the most Bitcoin among all the countries — around 200,000 BTC. However, the administration has dropped no hint of using tariff revenue to acquire more crypto assets to add to its treasury.