But the outlook for many top U.S. trading partners has yet to come into clear focus. Trump has threatened, for example, to raise tariffs on Canada to 35% from the current 25% if the two countries don’t strike a deal by Friday. And a 90-day truce between the U.S. and China expires in mid-August, at which point Trump’s tariffs on China could soar.

Trump’s protectionist moves likely to keep pushing countries to lessen their reliance on the US, analysts say.

The president is set to raise taxes on imports arriving from many countries, including Canada and Mexico. That’s on top of the tariffs that the White House has already announced on specific products,

That statement came some 12 hours after Trump announced an agreement Sunday with the European Union that would see a 15% tax paid on products brought into the United States from the bloc. The E.U. also agreed to spend $750 billion on energy purchases from the U.S., while investing an additional $600 billion here.

"The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold."

President Donald Trump's recent flurry of trade deals have given Asian exporters some clarity on tariffs, but missing are key details on how to avoid punitive rates that target China's supply chains.

China trade has reached a "good place" with reduced tariffs, but said China's 30% share of global manufacturing is unsustainably imbalanced.