The deal imposes 15% tariffs on Japanese cars and other goods, one of the more favorable rates. While the start date and other basic elements are still unknown, Treasury Secretary Scott Bessent warned this week that the US would monitor implementation and bump the rate up to 25% if Trump isn’t satisfied.

Automakers in various countries around the world are working to negotiate amended tariff arrangements with the Trump administration, and Japan’s deal this week has placed increasing pressure on South Korea to finalize a better,

South Korea's top trade negotiators met with U.S. Commerce Secretary Howard Lutnick, with both sides reaffirming their intention to reach a tariff deal.