Shares of Japanese automakers hit a peak at the Tokyo Stock Exchange following an announcement by U.S. President Donald Trump regarding a trade agreement with Tokyo. The benchmark Nikkei 225 index rose over 1% at the opening bell.
President Trump stated the trade deal imposes a 15% U.S. tariff on Japanese products. Japanese broadcaster NHK reported that existing tariffs on Japanese automobiles would be reduced from 25% to this new level. Toyota shares jumped nearly 10%, while Nissan gained 6.5% and Honda climbed 8.15%.
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