It’s a race against time for some of America’s top trading partners who are negotiating furiously to reach agreements by Aug. 1.

The United States and the European Union agreed to a 15 percent base tariff after weeks of negotiations, which were among the Trump administration’s most difficult discussions.

Top American and Chinese officials are meeting for two days of talks in Stockholm as the Trump administration tries to complete trade deals.

Some European politicians are dismayed that the European Union did not drive a harder bargain, but facing the threat of a damaging trade war, officials say they had little choice.

It’s a race against time for some of America’s top trading partners who are negotiating furiously to reach agreements by Aug. 1.

After a “constructive” round of talks ahead of an Aug. 12 deadline, Treasury Secretary Scott Bessent said, “Nothing is agreed until we speak with President Trump.”

A federal appeals panel will hear arguments from states and businesses that seek to invalidate the president’s tariffs.

Plus, why the tsunami wasn’t bigger.

Trading Partners Scramble To Reach Deals With U.S. Ahead Of Trump's Looming Deadline For New Tariffs

Also, the U.S. is paying more than 150,000 people not to work. Here’s the latest at the end of Thursday.

An executive order explaining the new rates is the latest move by President Trump to remake the global trading system.