Trump announces ‘massive’ trade agreement with Japan
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Japan PM Ishiba vows to stay on
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Shares of Japanese automakers surged after U.S. auto tariffs were reportedly lowered to 15% from the current 25%, according to public broadcaster NHK, citing a Japanese official. Stocks of Japan's Honda jumped 8.42%, while Toyota climbed 9.97%. Nissan jumped over 7%, and Mazda Motor surged over 16%. Mitsubishi Motors popped over 12%.
Trump will host Philippine President Ferdinand Marcos Jr. at the White House today. White House press secretary Karoline Leavitt said yesterday that the two leaders could discuss trade and the upcoming Aug. 1 tariff deadline.
Japan's top tariff negotiator, Ryosei Akazawa, met with U.S. President Donald Trump at the White House on Tuesday, the Asahi newspaper reported on Wednesday.
In comparison with the 25% tariff Trump slapped on Tokyo earlier this month, a 15% tariff seems like a big improvement.
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Wall Street is hanging near its records following some mixed profit reports, as General Motors and other big U.S. companies give updates on how much President Donald Trump’s tariffs are hurting or helping them.