President Donald Trump announced new trade agreements with Japan, the Philippines and Indonesia this week as the Trump-imposed August 1 tariff deadline approaches. The U.S.–Japan agreement reduces planned tariffs on Japanese exports from 25% to 15% in exchange for a $550 billion Japanese investment in U.

Analysts at Bank of America said that the Japan deal "looks like a reasonable blueprint" for other auto-exporting countries like South Korea.

Markets have cheered President Trump’s trade deals with Japan and the European Union. New 15% tariffs on most imported products from those countries are lower than many analysts expected, and they finally bring some predictability to Trump’s chaotic on-and-off-and-on-again tariff policy.

President Donald Trump met with European Commission President Ursula von der Leyen during his trip to Scotland.

Trump's trade deals with the EU and Japan pave the way for the stock market to end with it's third straight annual gain of more than 20%, Oppenheimer said.

"I think it's the biggest deal ever made," Trump said of the new agreement, which will reduce the bloc's tariff rate to 15 percent.

Japan is playing down the risks from its deal after the White House said the U.S. would direct $550 billion in investments by Japan and keep 90% of the profit.

Global stocks rose and the euro appreciated on Monday after a trade agreement between the United States and the EU lifted sentiment and provided some clarity in a week of key policy meetings by the Federal Reserve and the Bank of Japan.