President Trump’s new levies, which have pushed the country’s tariffs to their highest levels in decades, are typically paid by importers when goods reach U.S. ports. So there is little mystery about who makes that first payment.

U.S. and Chinese officials will meet in Stockholm next week to discuss an extension to the deadline for negotiating a trade deal, U.S. Treasury Secretary Scott Bessent said on Tuesday as President Donald Trump announced a deal with the Philippines and released terms of a previous deal with Indonesia.

A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.

The U.S. will likely extend its Aug. 12 tariffs deadline for a final trade deal with China as the two sides continue to negotiate, Treasury Secretary Scott Bessent said in a TV interview Tuesday.

President Donald Trump on Friday said there is a “50-50 chance” the United States will reach a trade agreement with the European Union to reduce tariffs, even as EU diplomats have signalled greater optimism about striking a deal before the August 1 deadline.