The U.S. and Japan have reached a trade agreement that will lower tariff rates on the longtime U.S. ally down to 15%, President Donald Trump said Tuesday. The 25% tariff rate slated to hit Japan by August will be lowered to 15%, according to Trump, who said Japan will invest $550 billion into the U.S. under the deal.

By Kevin Buckland TOKYO (Reuters) -Japanese automaker's shares led a surge in the Nikkei share average on Wednesday, while bonds slid after U.S. President Donald Trump said he had reached a trade deal with Tokyo.

Global markets rally as Trump signs trade deal with Japan, easing tariff fears and boosting auto stocks like Toyota, VW, and Stellantis.