While a handful of trade deals have trickled in -- including 15 per cent for South Korea and an extension of current rates for Mexico --many details remain hazy, leaving businesses and manufacturers around the world bracing for more price hikes regardless.

U.S. President Donald Trump said on Wednesday the U.S. would charge a 15% tariff on imports from South Korea as part of an agreement to avoid even higher levies.

The agreement comes after other American allies, like Japan, clinched their own deals, partly to moderate President Trump’s tariff threats.