But as recently as Wednesday, Mr. Trump floated a higher range, between 15% and 50%. Mr. Trump, who in April said the U.S. had 200 trade deals with other nations, has since said there are too many countries for individual trade deals with all of them and the U.S. will have "simple" tariffs for "most" countries.

After months of delays, President Trump’s long-awaited global tariffs are slated to take effect at the end of this week. Trump announced “reciprocal” tariffs on dozens of other countries April 2,