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.

President Donald Trump’s announced series of preliminary trade agreements are likely to put downward pressure on the U.S. dollar (DXY) over time, according to Goldman Sachs. “The deals have been generally consistent with our economists’ expectations for a reset higher in the baseline tariff rate offset by some key reductions in sectoral tariffs,

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,

Gulf equities were little changed in early trade on Tuesday as investors cautiously greeted a trade agreement between the U.S. and the European Union, while lacklustre second-quarter earnings weighed on sentiment.

President Trump has announced a trade agreement with the European Union. CBS News' Olivia Rinaldi and Javier David have details on the deal.

President Donald Trump is meeting with United Kingdom Prime Minister Keir Starmer in Turnberry, Scotland, this morning to discuss trade. The U.S. and United Kingdom reached an agreement on tariffs in May. Yesterday, Trump announced a trade deal with the European Union that would set tariffs at 15% for U.S. imports of most European goods.

Japan said on Tuesday the trade agreement it struck with the U.S. cleared uncertainties on U.S. trade policies but continued attention needs to be given to risks of those policies putting downward pressure on the Japanese economy.