President Donald Trump has struck a series of trade agreements in recent weeks as the White House threatens tariffs on dozens of countries set to take effect Aug. 1. In nearly every case, the trade accords set levies lower than a so-called "reciprocal tariffs" that would have otherwise taken effect on Friday.

President Trump on Monday said the tariff rate for most countries that don't reach individual trade deals with the U.S. will be "somewhere in the 15 to 20% range," different from the 15% to 50% range he floated only last week.