President Donald Trump extended his "Liberation Day" tariff pause and sent letters to trading partners announcing new tariff rates for Aug. 1.

President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.

While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10% higher than what the president said he would apply to America's largest trading partner in April.

President Trump is alerting countries around the world of impending tariff rates that they will face when sending goods to the United States, hitting prominent trading partners and poorer nations

Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.

China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.

Doubling down on his trade wars, President Trump is threatening to raise taxes on many goods from Canada and punish Brazil for prosecuting his friend.

China has been a fierce critic of sweeping U.S. tariffs that Trump announced on April 2. He later delayed the implementation of most but China, which has said it will respond with its own tariffs on U.S. imports, now faces a deadline next month to negotiate a deal.

The Central Asian nation, rich in critical minerals, is deepening its ties to China but does relatively little trade with the United States.

Trump's 20% tariffs slapped on China over fentanyl production will remain, meaning the U.S. tariffs on China will total 30% overall. "We're not looking to hurt China.

The global car industry has grappled for months to navigate the Trump administration’s trade war. That gives Swamy Kotagiri, CEO of Magna International, the largest auto-parts manufacturer in North America,