As of 1 August, a range of new tariffs will be imposed on most of Washington's trading partners -- some of them heavy and some sector-specific, such as a 50% tariff on products made with copper.
While South Korea has ultimately avoided the highest rates, countries such as Brazil and India now face significant new duties.
Here's a look at the latest developments.
South Korea
Donald Trump announced that Washington had reached a trade agreement with South Korea, under which a 15% tariff will apply to South Korean goods entering the United States.
He added that Seoul had committed to investing $350 billion in the United States, as well as the purchase of "$100 billion worth" of liquefied natural gas (LNG) or other energy sources.
The 15% rate is significantly below a 25% levy that Mr Trump had threatened earlier and is equivalent to levies determined from US trade deals with Japan and the European Union.
Seoul's presidential office said tariffs on automobiles - one of Seoul's key export items - will also stay at 15 percent%.
Canada
Mr Trump warned of trade consequences for Canada after Prime Minister Mark Carney announced plans to recognise a Palestinian state at the UN General Assembly in September.
The American president previously said he would increase tariffs to 35% on Canadian goods if no deal was reached by 1 August.
"Wow! Canada has just announced that it is backing statehood for Palestine," Mr Trump wrote on his Truth Social platform.
"That will make it very hard for us to make a Trade Deal with them."
Brazil
Mr Trump's measures against Brazil are openly political, overriding centuries-old trade ties.
He imposed sweeping 50% tariffs on Brazil and sanctioned the judge overseeing the trial of his far-right ally Jair Bolsonaro, who is accused of attempting a "coup" in Latin America's largest economy.
The tariffs marked Mr Trump's follow-through on threats to use American economic power to punish Brazil- and Supreme Court Justice Alexandre de Moraes - for what he has called a "witch hunt" against the former president.
India
On top of 25% tariffs on imports from India, Mr Trump also announced an unspecified "penalty" over New Delhi's purchases of Russian weapons and energy.
"I don't care what India does with Russia. They can take their dead economies down together, for all I care," Mr Trump wrote on his Truth Social platform.
"We have done very little business with India, their Tariffs are too high, among the highest in the world," he added.
The measures will kick in tomorrow, Mr Trump posted on his Truth Social platform, adding to a bevy of other tariff hikes - some up to 50% - set to take effect the same day.
The 25% tariff on India would be marginally lower than the rate announced in April but is higher than those of other Asian countries that have won.
European Union
EU exports are now set to face tariffs of 15% on most products - higher than customs duties before Mr Trump returned to the White House, but much lower than his threatened 30%.
European Commission President Ursula von der Leyen said some agricultural products would be exempt under the agreement struck Sunday, though she did not specify which.
Taoiseach Micheál Martin said the trade agreement will "help protect many jobs in Ireland".
France's President Emmanuel Macron said this week the European Union had not been "feared" enough in negotiations with the United States towards a trade deal, pledging to be "firm" in follow-up talks.
"It's not the end of it," Mr Macron told ministers during a cabinet meeting.
"Europe does not see itself enough as a power yet. To be free, you have to be feared. We were not feared enough."
