EU trade chief Maros Sefcovic will head to Washington on Wednesday for tariff talks, an EU spokesperson told Reuters, adding that he will meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.

Details are still scarce on the agreement, which the president said will partly walk back some of the steep tariffs he threatened on the country last week.

The White House keeps insisting that inflation is a thing of the past. The latest Consumer Price Index numbers help prove otherwise.

National Economic Council Director Kevin Hassett defended Donald Trump’s newly unveiled 50% tariff against Brazil on ABC News' "This Week."