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.

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.

Tariffs, including the 15% rate for most imports from the EU, would raise consumer prices by 1.8% in the short run, according to the Yale Budget Lab.

The United States and China are poised to start a fresh round of talks in Sweden, aiming to extend a temporary trade truce that held back triple-digit tariffs while the world’s two biggest economies try to broker a lasting deal.

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,

Investors will not be able to look away over the coming week as every single day could produce significant market-moving news.