President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, but suggested that he was still open to additional negotiations and pushed off increased duties until at least Aug.

China: The Trump administration has for now settled on a tariff of 55% on Chinese imports, a level that reflects rates that existed before Trump came to office in January.

President Trump has told 14 countries that they will face tariffs of at least 25 percent on Aug. 1 if they don’t reach agreements by then.