U.S. President Donald Trump has now set his sights on trade negotiations with the European Union, after announcing a framework agreement with Japan. "We have Europe coming in tomorrow, and the next day, we have some other ones coming in," Trump said late on Tuesday, without specifying details.

The agreement - including a 15% tariff on all imported Japanese goods, down from a proposed 25% - is the most significant of the string of trade deals the White House has reached ahead of a August 1 deadline for higher levies to kick in.

President Donald Trump has announced a trade framework with Japan, placing a 15% tax on goods imported from that nation