Uncertainty over U.S. President Donald Trump’s tariff strategy in global financial markets has been exacerbated by his push for bilateral trade deals, as well as legal challenges.

Trump’s order of “reciprocal” tariffs on exports from 69 trading partners, with import tariff rates ranging from 10 percent to 41 percent, took effect on Aug. 7, raising the average U.S. import tariff to the highest level in a century, Reuters noted.

According to the latest developments, Trump said he expects to “reach a deal” with China when he meets Chinese President Xi Jinping for talks in South Korea on Thursday.

US officials said negotiators from both countries finalized on October 26 a framework for a possible deal aimed at suspending tougher US tariffs and Chinese controls on rare earth exports.

Meanwhile, Trump announced a 10% increase in tariffs on Canadian goods in response to what he called a “misleading” ad with Reagan.

Additionally, on Monday, Brazilian President Luiz Inacio Lula da Silva said he expected a trade deal between his country and the United States to be reached within the next few days, under which tariffs imposed on Brazil by US President Donald Trump could be reduced.

The following is a schedule of upcoming dates and events that may affect US tariff policy.

October 30

Trump and Xi will meet in South Korea, with heightened expectations that the talks will pave the way for a potential trade deal.

November 1

A 25% tariff will be imposed on all imported medium and heavy trucks.

Additional tariffs of 100% on China’s exports to the US, with new controls on exports of critical software, will come into effect if the two countries fail to reach an agreement.

January 1, 2026

The 25% tariffs previously imposed will be further increased – to 30% on upholstered furniture and to 50% on cabinetry and bathroom furniture from countries without trade agreements.