President Donald Trump is set to meet with European Commission chief Ursula von der Leyen in Scotland to discuss trade.

A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.

With inflation creeping back into the US economy, it's as important as ever to have a firm grasp on Donald Trump's tariffs and what they mean.

President Trump told reporters this week that he is considering a tariff rebate check. Here’s what he said and what we know.

April 9: Trump's higher "reciprocal tariffs" begin just after midnight. Hours later, the president says he is issuing a 90-day pause on those duties, except for China. Trump raises tariffs on Chinese goods from 104% to 145%, the highest rate so far this year.

A high-stakes legal challenge threatens to undermine the legal foundation of Trump’s sweeping trade and tariff powers under emergency law.

Trump has rolled back many of his steepest tariffs over recent months, including a sky-high levy on China, the top source of U.S. imports. In recent days, however, Trump announced plans to slap tariffs as high as 50% on dozens of countries, including 25% tariffs on top U.S. trade partners such as Japan and South Korea.

Brazil’s inflation edged up in early July as US President Donald Trump threatened to slap the South American nation with punishing tariffs, further complicating the consumer price outlook for the central bank.

While the U.S. dollar gained ground Friday, it is still set for a weekly drop amid ongoing tariff negotiations and bank meetings scheduled for next week.