For nations that treat us badly, we will calculate the combined rate of all their tariffs, nonmonetary barriers and other forms of cheating.” — President Donald Trump, in remarks announcing global tariffs,

Trump has expressed openness to reaching a deal with countries, even as other officials in his administration have insisted his tariffs aren’t a negotiation.

Aides struggled to satisfy the president’s competing priorities before settling on a plan to both raise revenue and boost corporate onshoring.