According to Mars Finance news, reported by Jinshi, U.S. Trade Representative Grier stated on August 3 local time that President Trump’s new round of tariffs imposed on multiple countries “is basically set” and will not be adjusted in the current negotiations. This includes a 35% tariff on goods imported from Canada, a 50% tariff on Brazil, a 25% tariff on India, and a 39% tariff on Switzerland. Grier stated that some tariffs are set based on the situation of bilateral trade surpluses and deficits, "these rates are basically fixed."