Duties on imports from dozens of countries would jump if the 90-day pause imposed in April expires July 9 as scheduled.

Trump announced the pause on the imposition of “reciprocal tariffs” on April 9 because of the major reaction in the bond market, which indicated a financial crisis could be in the making.

Trump said Japan’s rate could end up at “30%, 35%,” which would be substantially higher than the 24% initially set when widespread tariffs were announced on April 2.