The rate will apply in addition to individual “reciprocal” tariffs targeting countries with which the US runs a trade deficit.

President Donald Trump is getting his way with the world economy. Trading partners from the European Union to Japan to Vietnam appear to be acceding to his demands to accept higher costs in the form of high tariffs.

Trump went on to say that he had golfed on Monday, and he had also “stopped the war” — appearing to reference Thailand and Cambodia agreeing to a ceasefire brokered by the president and Anwar Ibrahim, Malaysia’s prime minister, following roughly five days of fighting.