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The announcement follows similar moves by postal services from the European Union and several other countries as the de minimis exemption ends Aug. 29.

Trade envoy Ryosei Akazawa was scheduled to leave Tokyo for Washington on Aug. 28 but Chief Cabinet Secretary Yoshimasa Hayashi told reporters some details required further consultations.

The first-quarter GDP drop, the first retreat of the U.S. economy in three years, was caused by a surge in imports as businesses scrambled to bring in foreign goods ahead of Trump’s tariffs.

Announced buybacks surpassed $1 trillion on Aug. 20, marking the shortest amount of time needed to reach that level, according to data compiled by Birinyi Associates.

The tariff hikes, expected for imports including cars, textiles and plastics, aim to shelter domestic manufacturers from Chinese competition, according to people briefed on the matter.

The U.S. Department of Transportation acts to withhold $50.5 million in federal grants from California, Washington and New Mexico.

Q3 data from Statistics Canada’s Canadian Survey on Business Conditions said 42% of businesses didn’t pass along tariff-related cost increases to their customers in the past six months. 

The Port of Los Angeles reported its busiest month on record with container volume increasing 8.5% to 1,019,837 20-foot-equivalent units from 939,600 last year.

“This is the Manhattan Project moment for rare earths,” said Joshua Ballard, CEO of USA Rare Earth, which plans next year to start making the rare-earth magnets that appear in many products.

The Indian government estimates the tariffs will impact $48.2 billion worth of exports.