President Trump said he plans to write to many nations setting a blanket unilateral tariff rate, which he said could be 10% or 15%. "We’ll have well over 150 countries that we’re just going to send a notice of payment out" detailing tariffs,

"It’s all going to be the same for everyone," the president told reporters of the U.S. duty those countries will face.

With help from a longtime Silicon Valley investor turned White House insider, Mr. Huang got the administration to reverse course on restrictions.