The United States and Japan have finalized a trade deal in what President Trump calls a “massive” victory, according to Reuters. As part of the agreement, Japan will reportedly invest $550 billion into the US over the next few years, with the US set to receive “90 percent of the profits,” according to President Trump.
The joint agreement also lowers tariffs on Japan from the proposed 25 percent to just 15 percent, as confirmed by Japanese Prime Minister Shigeru Ishiba. The lowered tariffs will directly affect the import of agricultural products like rice, but most importantly, cars and trucks.
In response to the new deal, Japan's largest automakers saw huge single-day gains in the stock market. Honda and Nissan rose by 8 percent, Toyota jumped by 11 percent, Mitsubishi improved by 13 percent, and Mazda stocks saw the biggest increase, climbing by as much as 17 percent.
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