Trump’s so-called reciprocal tariffs are scheduled to go into effect on August 1 after a 90-day delay—just as American families begin back-to-school shopping—and could hike up the cost of consumer goods imported from other countries.

ABC News’ Selina Wang discusses the impact of the new trade deal with Japan, including the response from American automakers.

President Donald Trump said Tuesday that the United States had agreed to a "massive" trade deal with Japan that would include a 15 percent tariff on its exports.