The new trade agreement between the U.S. and the European Union will lift tariffs on imports of goods from EU countries to their highest level in decades and hurt the trading bloc's economic growth, according to some experts.

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.

FOX Business' Charles Payne joins 'Fox & Friends' to break down President Donald Trump's latest trade deals with Japan, Indonesia and the Philippines.

U.S. President Donald Trump said on Monday that he had instructed his trade team to resume negotiations on trade with Thailand and Cambodia after the two nations agreed to a ceasefire. "Just spoke to the Acting Prime Minister of Thailand and Prime Minister of Cambodia,

The agreements have been overshadowed by U.S. firms issuing warnings about how the tariffs will impact their bottom lines and prolong uncertainty in the U.S. economy.

President Donald Trump announced new trade agreements with Japan, the Philippines and Indonesia this week as the Trump-imposed August 1 tariff deadline approaches. The U.S.–Japan agreement reduces planned tariffs on Japanese exports from 25% to 15% in exchange for a $550 billion Japanese investment in U.

President Trump’s tariff rollout has taken numerous twists and turns since launching earlier this year. The stakes are climbing ahead of Aug. 1, Trump’s self-imposed deadline for reaching trade deals.

Trump will host Philippine President Ferdinand Marcos Jr. at the White House today. White House press secretary Karoline Leavitt said yesterday that the two leaders could discuss trade and the upcoming Aug. 1 tariff deadline.