The levy is the highest announced so far in Trump’s letters to world leaders this week, and comes after he wrote a lengthy message supporting the former Brazilian leader.

Now that President Donald Trump signed the bill, workers will be able to deduct up to $25,000 in reported tips and $12,500 in overtime pay from their taxable income on their federal tax returns. This means you won’t see an immediate boost in your take-home pay — taxes will still come out of your paycheck — but when you file for 2025 early next year,

Trump previously promised 90 trade deals in 90 days. Now he says the tariff letters he's sending to foreign leaders, count as deals.