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.

EU trade ministers have agreed that U.S. President Donald Trump’s 30% tariffs announced on the European Union are “absolutely unacceptable,” and they are studying a new set of countermeasures to respond to the move.

The EU says the U.S. is resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached with U.S. by Aug. 1.