By Trevor Hunnicutt and Andrea Shalal

WASHINGTON (Reuters) – President Donald Trump stated on Wednesday that the U.S. will probably “live by the letter” on tariffs with Japan and may have another trade deal forthcoming with India, following Tuesday’s announcement of an accord with Indonesia.

> “We have some pretty good deals to announce,” Trump told reporters at the beginning of a meeting with Bahrain’s Crown Prince Salman bin Hamad Al Khalifa at the White House. He mentioned that he would also discuss trade issues with the Bahraini leader.

> “The big one really is going to be on the 150 countries that we’re really not negotiating with, and they’re smaller — we don’t do much business with.”

On July 7, Trump declared 25% tariffs on imports from Japan and South Korea, effective August 1. He also announced different rates for several other countries. On Tuesday, he stated that letters would be sent soon to dozens of smaller countries notifying them their goods would face a tariff rate of over 10%.

> He said those smaller countries would receive a “notice of payment” with a uniform tariff rate for the whole group.

The deal with Indonesia is among the few struck thus far by the Trump administration ahead of an August 1 deadline when duties on most U.S. imports are supposed to rise again. The European Union and Canada, on the other hand, are preparing countermeasures should their discussions with the U.S. fail to yield a deal.

Trump expressed that he does not expect to reach a broader agreement with Japan.

Trump’s trade strategies have disrupted decades of negotiated reductions in global trade barriers. This has unsettled international financial markets and heightened concerns about a new wave of inflation.

Kevin Hassett, Trump’s chief economic adviser, told Fox News that “a whole bunch” of new trade deals would be announced very soon, although he provided no specifics.

> He mentioned that Trump’s strict August 1 deadline has catalyzed a surge of new activity, including discussions with countries that had not previously been in contact.

On Wednesday, Trump reiterated his optimism for a deal with India, which currently faces a 26% tariff rate, but did not provide details. An Indian trade delegation arrived in Washington on Monday for renewed talks, with more officials anticipated to arrive on Wednesday.

European Union trade chief Maros Sefcovic also headed to Washington on Wednesday for tariff discussions, as per an EU spokesperson. He plans to meet U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

Trump has threatened a 30% tariff on imports from the EU starting August 1, which Europe has stated is unacceptable and would terminate normal trade between two of the world’s largest markets.

Greer, Trump’s primary trade negotiator, informed business executives in Detroit that he is focused on reducing the $1.2 trillion U.S. trade deficit and curtailing the loss of U.S. advanced manufacturing capacity.

Trump’s tariff policies aimed for a universal tariff rate of 10% on all countries, with higher rates for the most “problematic” ones, including China, which currently faces the highest tariff rate of 55%. Greer added that the president is open to negotiations if countries express a desire to invest.