Commerce Secretary Howard Lutnick revealed to the Daily Caller how he negotiated a massive trade deal with Japan on behalf of the Trump administration. President Donald Trump announced on Wednesday via Truth Social that his administration had secured a trade deal with Japan,

The US has reached another deal with Japan, where it’s announced a tariff rate of 15%, which was down from the rate they were looking at, which was around 25%. So that’s been seen as a big positive for the markets, reducing uncertainty, and particularly for Japanese auto companies.

Trump’s so-called reciprocal tariffs are scheduled to go into effect on August 1 after a 90-day delay—just as American families begin back-to-school shopping—and could hike up the cost of consumer goods imported from other countries.

Japan trade deal boosts Japanese equities and benefits Franklin FTSE Japan ETF, but faces issues with tariffs and market trends. Click for my FLJP update.

Japanese Prime Minister Shigeru Ishiba, under growing pressure to step down over the historic loss of his ruling party in a weekend election, says he will decide on whether to resign after closely studying the tariff deal just struck with the United States.

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.

Citi economist Katsuhiko Aiba said the U.S.-Japan trade deal could influence the course of talks with other major auto exporters, namely the EU and South Korea.