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.

This week, U.S. President Donald Trump is set to make key trade deal decisions amidst ongoing negotiations with China and the European Union. As the August 1 deadline approaches, discussions are focused on tariffs and digital service regulations with the EU,

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.

Benchmark Brent crude prices were down 10 cents at $69.94 per barrel, while U.S. West Texas Intermediate crude prices were down 0.1% at $66.66 per barrel at 4.07 a.m. ET.