By Brian Swint

With President Donald Trump's deadline of Aug. 1 to reach new trade arrangements just two weeks away, a few big deals could be imminent.

Earlier this week, Trump said a deal with India is close. And negotiators from the European Union are in Washington this week to try to hammer out an agreement. That suggests their new rates could be announced soon.

Meantime, while some evidence shows tariffs are pushing up prices for consumers, the economy appears to be mostly healthy. Retail sales came in stronger than expected in June, stocks reached new records on Thursday. Video streamer Netflix and food maker PepsiCo both said a weaker dollar is boosting earnings from sales made overseas.

Separately, Trump followed up on his announcement last week of 50% tariffs on Brazil, which he justified by saying the country shouldn't be putting its former President Jair Bolsonaro on trial for attempting a coup. Trump posted a letter directly to Bolsonaro on his Truth Social website late Thursday saying that Brazil was treating him poorly.

Earlier this week, Trump revealed tariff rates for Indonesia and said Russia will face a 100% tax on imports if it doesn't reach a deal with Ukraine in the next 50 days. He also said tough tariffs on pharmaceuticals could be announced soon.

Write to Brian Swint at brian.swint@barrons.com

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July 18, 2025 05:14 ET (09:14 GMT)

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