"The big money will start coming in on Aug. 1, I think that was made clear today," Trump told reporters. He then turned to Treasury Secretary Scott Bessent, who estimated that the United States could collect more than $300 billion in tariff revenue by the end of the year,

Global investors are heading into U.S. President Donald Trump's Wednesday deadline for trade tariffs palpably unexcited and prepared for a range of benign scenarios that they believe are already priced in.

The new tariff rates threatened in the letters Trump shared Wednesday are similar to those he announced on what the White House dubbed “Liberation Day” in early April.