More than two-thirds of Japanese firms believe the government should compile an extra budget later this year to mitigate the impact of U.S. President Donald Trump's new tariffs and rising prices, a Reuters survey showed on Thursday.

Less than half of Trump 2024 voters, 46%, said they would support tariffs on China — one of America’s biggest trading partners — even if they lead to rising prices domestically. Around a third, 32%, said they would only support tariffs if they do not increase prices.

New data showing price increases last month could foreshadow even higher costs if the president imposes steep tariffs on Aug. 1.

Commodities traders are racing against time to unload as much Brazilian coffee as possible in the United States before Trump's new 50% tariff on Brazilian products is implemented on August 1, they said on Tuesday.

The Home Depot co-founder said he had been worried that Trump would use his time in the Oval Office “to engage in retribution.”

A new report out this week is revealing the potential impact of President Trump’s tariffs on prices and inflation.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

The pause on the biggest of Trump's tariffs won't end this week, as planned, but the problems they present still loom large.

Trump has announced reciprocal tariffs on dozens of American trading partners, as well as new tariffs on copper and pharmaceuticals.