President Trump announced a trade deal with South Korea as his Aug. 1 tariff deadline approaches. This comes as he comments on Federal Reserve Chair Jerome Powell's latest decision on interest rates.

The agreement comes after other American allies, like Japan, clinched their own deals, partly to moderate President Trump’s tariff threats.

Economic data out Wednesday showed trade turmoil wasn’t holding back the U.S. economy, but the Federal Reserve left rates unchanged, citing fear of inflation.