Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

National Economic Council Director Kevin Hassett, a top economic advisor to Trump, on Monday rebuked concerns about tariff-related inflation. The Fed, Hassett told CNBC, has been "very, very wrong" in its assessment of a potential resurgence of price increases.

Some traders are diverting vessels mid-journey, canceling stops in other ports so that containers filled with Brazilian coffee can enter U.S. ports without paying the 50% tariff.