It is the most significant of a clutch of agreements Trump has bagged since unveiling sweeping global levies in April, though like other deals, exact details remained unclear.

U.S. automakers worry that President Donald Trump’s agreement to tariff Japanese vehicles at 15% would put them at a competitive disadvantage, saying they will face steeper import taxes on steel, aluminum and parts than their competitors,

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along.

Former President Donald Trump has issued a threat to impose a . 25% tariff rate on Japanese imports, according to recent reports. The proposed tariffs would have taken effect in A

President Donald Trump said on Wednesday that "we'll have a straight, simple tariff of anywhere between 15% and 50%." Hiking the baseline reciprocal tariff rate to 15 percent means a 50 percent higher tax on American manufacturers and consumers than Trump originally promised.

On his own terms, it could now be said that the aggressive approach by the US President is yielding tangible results.

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.