President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug.

The pacts are also drawing comparisons to the Phase One trade deal reached during President Donald Trump’s first term. Analysts expect the investment pledges to go the way of the agricultural purchases China promised and never delivered upon, especially as the vows don’t appear to be legally binding.

A U.S.-China policy expert explains what each country wants from a trade deal as top officials meet this week.

The US and the EU will have zero tariffs on aircraft and their components, some chemicals, some generic drugs, some semiconductors, some agricultural products and essential raw materials. Alcoholic beverages are not included in the agreement. The 50% tariffs on steel and aluminum remain.

White House officials are meeting Chinese officials in Stockholm this week to hammer out more details for a framework between the world’s two largest economies.

Asian equities were mostly higher overnight as Vietnam and Indonesia outperformed while Japan and India underperformed. Hong Kong and Mainland China were both higher overnight on high volumes as health care stocks outperformed,

China has slowed or halted purchases of a slew of US energy and farm goods in 2025, but shipments could soar again after a US-China trade deal.