President Donald Trump has sent letters this week outlining higher tariffs countries will face if they don’t make trade deals with the U.S. by Aug. 1.

President Trump is targeting multiple countries with potentially steep tariffs starting Aug. 1 if they don't reach a trade deal with the U.S. CBS News' Jo Ling Kent explains how the uncertainty around tariffs is impacting U.

President Donald Trump escalated his trade war, sending letters to more than 20 countries, threatening steep tariffs unless they make a deal.