American tariffs on dozens of countries will come into effect next Wednesday as scheduled, although several deals could still be worked out before then, President Donald Trump confirmed Friday.

US President Donald Trump said his administration will probably start notifying trading partners Friday of the new US tariff on their exports effective Aug. 1, while reiterating a preference for simplicity over complicated negotiations five days before his deadline for deals.

President Donald Trump said Washington will start sending letters to countries on Friday (July 4) specifying what tariff rates they will face on imports to the United States, a clear shift from earlier pledges to strike scores of individual deals.

Major Cognac companies made concessions to avoid the worst of the penalties, imposed by Beijing in retaliation for E.U. tariffs on Chinese electric vehicles.

China has imposed anti-dumping duties on European brandy, most notably cognac produced in France. The tariffs announced Friday will range from 27.7% to 34.9% and take effect on Saturday.

China will require major European brandy exporters to raise prices or risk anti-dumping taxes of up to 34.9 percent from Saturday, the latest salvo in its long-running trade spat with