Trump said the U.S. will impose a 15% tariff on Japanese imports under the agreement, which he hailed as "maybe the largest deal in history."

India is cautiously approaching trade negotiations with the US, observing complications in recent American deals with Japan, Indonesia, and Vietnam. Discrepancies exist between US and Japanese officials regarding investment profit allocation.

EDINBURGH, Scotland (AP) — The United States and the European Union agreed on Sunday to a trade framework setting a 15% tariff on most goods, staving off — at least for now — far higher import duties on both sides that might have sent shock waves through economies around the globe.

The euro rose on Monday following a framework trade deal reached over the weekend between the United States and the European Union.

Japan's chief tariff negotiator Ryosei Akazawa speaks to the media after a meeting between Prime Minister Shigeru Ishiba and Treasury Secretary Scott Bessent in Tokyo, on July 18, 2025. Shuji Kajiyama/AP

Live market coverage co-anchored from Hong Kong and New York. Overnight on Wall Street is daytime in Asia. Markets never sleep, and neither does Bloomberg.

"The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold."

Japan's chief negotiator reached an agreement with U.S. Commerce Secretary Howard Lutnick in mid-June on a deal offering massive Japa