The US has reached trade agreements with more countries and lowered tariffs on them, e.g. the UK, Vietnam, Indonesia, China, the Philippines, and Japan. U.S. Commerce Secretary Howard Lutnick said small countries (e.g. Latin American countries, Caribbean countries, many countries in Africa) will face a baseline tariff of 10%. The EU is negotiating with the US, and the US may lower tariffs from 30% to 15%. The US may lower tariffs on Thailand from 36%. Still, Thailand's economy still has downside risk.