Commodities traders are racing against time to unload as much Brazilian coffee as possible in the United States before Trump's new 50% tariff on Brazilian products is implemented on August 1, they said on Tuesday.

The European Union has finalized a second list of countermeasures to target U.S. goods worth $84 billion, including Boeing Co. aircraft, automobiles and bourbon, if it decides to retaliate against Donald Trump's tariff policy.

WASHINGTON (AP) — President Donald Trump told reporters Tuesday that he plans to place tariffs of over 10% on smaller countries, including nations in Africa and the Caribbean. “We’ll probably set one tariff for all of them,” Trump said, adding that it could be “a little over 10% tariff” on goods from at least 100 nations.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

The pause on the biggest of Trump's tariffs won't end this week, as planned, but the problems they present still loom large.

As President Trump ramps up the pressure on dozens of countries, trade experts fear U.S. tariff policy leaves consumers and businesses in limbo.

The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.

Asian shares finished mostly higher despite lingering worries about President Donald Trump's latest updates to his tariffs.