U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal. It raises tariffs on most European goods to 15%.

TOKYO (Reuters) -Japan's leading trade negotiator said on Tuesday that the trade deal Tokyo agreed with the United States last week guarantees Japan will always receive the lowest tariff rate on chips and pharmaceuticals of all the pacts negotiated by Washington.

US stocks were mixed Monday and the S&P 500 eked out a record high for the sixth day in a row as investors digested the announcement of a trade deal between Washington and Brussels.

Japan said on Tuesday the trade agreement it struck with the U.S. cleared uncertainties on U.S. trade policies but continued attention needs to be given to risks of those policies putting downward pressure on the Japanese economy.

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"I think it's the biggest deal ever made," Trump said of the new agreement, which will reduce the bloc's tariff rate to 15 percent.

Futures tied to Canada's main stock index rose on Tuesday, tracking gains in gold and energy prices, while investors assessed corporate earnings and awaited trade deals with the U.S. ahead of the August 1 tariff deadline.

Investors kick off a hectic week with stocks moving mostly lower after a U.S.-European Union trade deal, with a Fed meeting, jobs data and a deluge of corporate earnings on deck.