The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.

Throw it all together and a level of predictability is finally emerging after six months of tariff threats that had at one point jacked up rates to 145% on China and near 50% on some smaller Asian exporters. Investors cheered the moves, with Asian shares rising the most in a month.

U.S. President Donald Trump announced a new 19% tariff rate for goods from the Philippines on Tuesday after what he called a "beautiful visit" by Philippine President Ferdinand Marcos Jr. to the White House,

The tariff rate for imports from Indonesia will remain at the 19% rate announced last week, but the Southeast Asia nation has now agreed to sell critical minerals and purchase Boeing planes, farm products, and energy from the U.S., President Donald Trump announced in a post on social media Tuesday afternoon.

Trump says he could decrease drug prices by up to 1,000%, suggesting that he might use trade leverage to compel action.

She was referring to Trump’s repeated claim that he has completed 200 trade deals — despite there being only 195 countries in the world. To emphasize the disconnect, Phillip rolled a series of clips showing Lutnick enthusiastically talking up the outcome of these alleged deals.

Asian governments are hoping a flurry of last-minute diplomacy will secure them better deals from the White House. Japan’s chief trade negotiator Ryosei Akazawa met with US Commerce Secretary Howard Lutnick for more than two hours on Monday — his eighth round of trade talks with US officials.

President Donald Trump is expected to travel to Scotland in his 27th week back in the Oval Office, as well as continue ironing out trade deals ahead of the Aug 1 deadline.