President Donald Trump signed an executive order Thursday placing tariffs on many U.S. trade partners — the next step in his trade agenda that will test the global economy and alliances.

Countries around the world rushed Thursday to negotiate last-minute trade deals with the US before sweeping new tariffs take effect Friday — after President Trump already locked up major agreements accounting for about one-third of American trade.

On Thursday, Donald Trump announced sweeping new tariffs against U.S. trading partners that will go into effect next week. The announcement came on the same day that an appeals court grappled with the question of whether Trump’s tariffs are even legal.