The U.S. and Japan have reached a trade deal, President Donald Trump announced late Tuesday, with the Asian country facing 15% “reciprocal" tariffs.

"We're in much better shape because it's now clear that if there's gonna be a real trade war with anyone, it would just be with China," Secretary Ross tells Fortune.

TACO or tariffs? An August 1 deadline looms after the European Union became the latest of the top US trading partners to reach a deal with Trump.

Japanese automakers breathed a sigh of relief after U.S. President Donald Trump finalized a trade agreement last week. However, the relief is tempered by intensifying competition, especially from China,

The U.S. and European Union agreed on trade terms that include a 15% rate on most EU products as well as hundreds of billions of dollars of investments in American industry. President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to iron out the agreement.

The euro rose on Monday following a framework trade deal reached over the weekend between the United States and the European Union.

India’s trade performance may suffer in the coming quarters due to the ongoing uncertainty over US President Donald Trump’s tariff policies, according to the South Asian nation’s finance ministry.