US President Donald Trump suggested that he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising.

President Trump’s new levies, which have pushed the country’s tariffs to their highest levels in decades, are typically paid by importers when goods reach U.S. ports. So there is little mystery about who makes that first payment.

Trump did not share any fresh update on the trade pact with India. The negotiations between the two countries are yet to conclude.

The trade deal with European Union (EU) are yet to be finalised and the talks will continue in Scotland ahead of the August 1 deadline, Trump said

U.S. President Donald Trump said Friday that his administration will have most of its trade deals with countries finished by Aug. 1, as South Korea and other trading partners are striving to reach agreements to lower its "reciprocal" tariff rates by the negotiation deadline.