Canadian Prime Minister Mark Carney speaks during a press conference after a Cabinet meeting to discuss both trade negotiations with the Unite States and the situation in the Middle East, at the National Press Theatre in Ottawa, Ontario, Canada, on July 30, 2025. Dave Chan/AFP via Getty Images

Global trading partners responded on Friday to President Donald Trump’s new wave of tariffs on dozens of countries, with some welcoming the move after securing favorable terms, while others expressed disappointment as their rates increased.

Trump signed the executive order on Thursday, the eve of the Aug. 1 deadline for trading partners to reach trade agreements with the United States. Levies range from 10 percent to as high as 41 percent, depending on whether a nation has reached an agreement with the United States and the nature of the agreement. These reciprocal tariffs will come into effect on Aug. 7.