President Donald Trump announced a trade agreement with Japan on Tuesday, making it the largest U.S. trade partner to broker an accord as the White House threatens to impose tariffs on dozens of countries within days.

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

The U.S. and Japan announced a trade agreement that President Trump hailed as a significant victory for American companies and consumers. In return, he said the U.S. won’t impose 25% tariffs on Japan at the end of this month.

President Donald Trump said Tuesday he and President Ferdinand Marcos Jr. of the Philippines have reached a trade agreement. Shortly after, he also revealed more detailed terms of an agreement with Indonesia.

Analysts see a potential path for other trading partners, including South Korea and the European Union, to strike their own deals.

Trade deals have never been more in the headlines, as Donald Trump continues to threaten countries with higher tariffs until they sign new agreements with the US. But how exactly are trade deals negotiated between nations, and has the US president's forceful actions changed how the talks are conducted?

A deal with Japan and a potential deal with Europe follows months of uncertainty and will likely raise prices while offering a bit of clarity for global trade.

President Trump's new trade deal with Japan includes a 15% tariff on exports to the U.S., up from earlier rates. CBS News MoneyWatch correspondent Kelly O'Grady breaks down how this could impact major automakers.