President Trump on Friday put the odds of a trade deal with the European Union at "50-50," even as negotiators from both sides have expressed optimism about reaching a deal before the Aug. 1 deadline.

"I would say that we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU," Trump told reporters before departing on a trip to his golf course in Scotland.
Trump also said Friday that letters dictating tariff rates for over 200 countries would go out soon while his administration works to clinch deals with larger trade partners, including the EU, India, and Canada. Trump on Friday also said the US and China have the "confines of a deal" as the two sides prepare to meet next week.

Meanwhile, US-Japan trade deal may already be under pressure, as reports on Friday suggest the two sides disagree on how to split profits from Japan's $550 billion investment into the US.
Trump announced the deal on Tuesday, which includes a 15% tariff on imported goods and a $550 billion Japanese investment. However, the sides do not seem aligned on profit sharing, with Japan seeking a split based on contributions, while the US says it would keep 90%.

In any case, the Japan trade deal may have set a precedent for Trump's new baseline tariff rate. As the US finalized the deal with Japan and advanced talks with the EU, Trump said tariffs would range from 15% to 50%, with tougher partners facing higher rates.

Trump's April "Liberation Day" tariffs had set a baseline rate of 10% on all US trading partners.
Earlier this week, Trump also said the US had also struck a trade deal with the Philippines, which will see the country's imports face a 19% tariff into the US. Trump said US exports will face no import tax in the Philippines as part of the deal.

The White House also unveiled new details of a confirmed trade agreement with Indonesia. Yahoo Finance's Ben Werschkul reported that a 19% tariff will apply to Indonesian goods.