The pacts are also drawing comparisons to the Phase One trade deal reached during President Donald Trump’s first term. Analysts expect the investment pledges to go the way of the agricultural purchases China promised and never delivered upon, especially as the vows don’t appear to be legally binding.

The United States is pressing forward on various trade fronts, with ongoing efforts to close its deal with the European Union (EU), continued monitoring of its agreement with China and persistent negotiations with India. The US trade representative spoke about the progress in US trade deals with other countries in an interview with CNBC.

Global stocks rose and the euro firmed on Monday after a trade agreement between the United States and the EU lifted sentiment and provided clarity in a pivotal week headlined by the Federal Reserve and the Bank of Japan policy meetings.