Japan stocks approach all-time high on US trade deal, Ishiba speculation
JGB yields at 17-year high and volatility hits the yen as Trump OKs 15% levy
Since the U.S. introduced "reciprocal" tariffs in early April, Japan has been trying to negotiate a deal, but the talks became snagged over a separate 25% levy on cars. (Photo by Nanami Sato)
JADA NAGUMO
TOKYO -- Japanese stocks soared and government bonds plunged on Wednesday as a trade deal between Tokyo and Washington brought relief to investors. Speculation over the likelihood that Prime Minister Shigeru Ishiba will resign also temporarily pushed the yen lower, while propelling stocks higher.
U.S. President Donald Trump said the two countries reached a deal under which Japan will invest $550 billion in the U.S. and pay a 15% 'reciprocal' tariff on exports. Washington had previously announced a 25% tariff that was to go into effect on Aug. 1.
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