The European Union and its 27 member nation bloc became the latest of the United States' top trading partners to come to an agreement with Trump over the weekend, joining the Philippines, Japan and Indonesia in announcing deals during July.

Trading partners from the European Union to Japan to Vietnam appear to be acceding to U.S. President Donald Trump's demands to accept higher costs in the form of high tariffs.

"The trade deal struck with the U.S. is certainly a relief in that it offers some certainty that U.S. tariffs on Japan-made cars won't rise to punitive levels," said Stefan Angrick, head of Japan and Frontier market economics at Moody's Analytics.

The rate will apply in addition to individual “reciprocal” tariffs targeting countries with which the US runs a trade deficit.

U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports and spares Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans.

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

With the president’s new trade deals, US protectionism is slowing investment and rewiring supply chains at the expense of the global economy

By David Lawder, Greta Rosen Fondahn and Maria Martinez STOCKHOLM (Reuters) -U.S. and Chinese officials agreed to seek an extension of their 90-day tariff truce on Tuesday, following two days of what both sides described as constructive talks in Stockholm aimed at defusing an escalating trade war between the world's two biggest economies that threatens global growth.