T rump’s so-called reciprocal tariffs are scheduled to go into effect on August 1 after a 90-day delay—just as American families begin back-to-school shopping—and could hike up the cost of consumer goods imported from other countries.

President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.

The Philippines will aim to bring down the tariff imposed by the US on Philippine exports to 15% from 19%, Manila’s envoy to Washington said, as the Aug. 1 deadline set by President Donald Trump nears.

Trump will host Philippine President Ferdinand Marcos Jr. at the White House today. White House press secretary Karoline Leavitt said yesterday that the two leaders could discuss trade and the upcoming Aug. 1 tariff deadline.