EWJ

iShares MSCI Japan ETF

Japan Automobile Manufacturers Association chair Masanori Katayama said the industry would “wholeheartedly strive to ensure the virtuous cycle of wage increases continues” following the tariff cut.

The reduction stems from a Trump administration trade deal that also includes Japan’s pledge to create a $550 billion U.S. investment fund and boost purchases of American goods.

The rally in SoftBank, which has a significant weighting in Japan’s Nikkei 225 average, pushed the country’s benchmark index to a new high.

The order, formalised in a U.S. Federal Register notice, also confirms Tokyo’s $550 billion U.S. investment package and new purchases of American agricultural products and defense equipment.

The outgoing prime minister believed it was his responsibility to resolve the tariff issue, as he viewed it as a “national crisis.”

Japan has agreed to expeditiously implement a 75% increase in the procurement of American rice and also purchase other agricultural products.

The visit follows last week’s abrupt cancellation, which sparked speculation about friction, as Tokyo presses for U.S. auto tariff cuts while rejecting calls to expand rice imports.

The U.S. administration adopts a holistic approach that treats political, economic, and cultural matters as "integral parts of a single, inseparable policy agenda," he reportedly said.

Tokyo’s top trade negotiator, Ryosei Akazawa, said agriculture was not part of the July trade deal, denying reports that tariff cuts were under discussion.