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FTSE 100 LIVE: Stocks surge as Trump strikes trade deals with Japan, the Philippines and Indonesia
FTSE 100 LIVE: Stocks surge as Trump strikes trade deals with Japan, the Philippines and Indonesia

Yahoo

timean hour ago

  • Business
  • Yahoo

FTSE 100 LIVE: Stocks surge as Trump strikes trade deals with Japan, the Philippines and Indonesia

This embedded content is not available in your region. The FTSE 100 (^FTSE) and European stocks soared higher on Wednesday as traders cheered news that US president Donald Trump has agreed to a "massive" trade deal with Japan, one of the country's largest trading partners. Posting on his social media site Truth Social, Trump said: "We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. "Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things." Japan's prime minister Shigeru Ishiba welcomed the announcement on Wednesday, adding that he expects the agreement to contribute to the world economy. "Japan's tariff rate, which had been set to increase to 25% on reciprocal tariffs, was kept at 15%. This is the lowest figure to date among countries with trade surpluses with the US," he said. Stocks: Create your watchlist and portfolio "The agreement does not include any reduction of tariffs on the Japanese side, including on agricultural products." "This is precisely the result of my consistent advocacy and strong lobbying of the US since I proposed 'investment over tariffs' to president Trump at our White House summit in February this year." Separately, Trump also announced that the US would levy a 19% tax on imports from the Philippines. He wrote on social media that the new tariff was part of a wider pact, in which the Philippines would remove duties on US goods and the two countries would cooperate militarily. "It was a beautiful visit, and we concluded our Trade Deal," Trump wrote on Truth Social, offering no further details about the apparent agreement. Meanwhile, Indonesia is set to pay a 19% tariff rate. Trump posted: "It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers. "The United States of America will now sell American Made products to Indonesia at a Tariff Rate of ZERO, while Indonesia will pay 19% on all of their products coming into the U.S.A." London's benchmark index (^FTSE) was 0.4% higher in early trade - a fresh intraday high. Germany's DAX (^GDAXI) rose 0.7% and the CAC (^FCHI) in Paris headed 1.4% into the green. The pan-European STOXX 600 (^STOXX) was up 0.9% amid raised hopes that the EU might also be able to reach a trade deal with the US. Wall Street is set for a positive start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the green. The pound was 0.2% up against the US dollar (GBPUSD=X) at 1.3548. Follow along for live updates throughout the day: Indonesia to pay 19% tariff rate And the tariff news doesn't stop there... It has been announced that Indonesia is set to pay a 19% tariff rate. Trump posted: US also strikes trade deal with the Philippines Separately, Trump also announced that the US would levy a 19% tax on imports from the Philippines. He wrote on social media that the new tariff was part of a wider pact, in which the Philippines would remove duties on US goods and the two countries would cooperate militarily. "It was a beautiful visit, and we concluded our Trade Deal," Trump wrote on Truth Social, offering no further details about the apparent agreement. Compared to Japan, the Philippines is a relatively small trade partner with the US. Last year it sent around $14.2bn worth of goods to America, including car parts, electric machinery, textiles and coconut oil. Japan welcomes US trade deal Japanese prime minister Shigeru Ishiba welcomed the US-Japan trade deal on Wednesday. He said: It comes as Japan was the fourth largest single-country export market for US agriculture and related products in 2022, valued at nearly $17bn (£12.5bn). This is according to a report from the International Trade Administration. The US was the country's largest supplier of food and agricultural products, followed by the EU, China, Australia, and Thailand. Japan was also the biggest export market for US beef and pork, valued at roughly $5bn combined, and the second largest market for US corn, valued at $3.3bn. Asia and US overnight Stocks in Asia were higher overnight, with the Nikkei (^N225) surging 3.7% to a one-year high in Japan as the country struck a trade deal with the United States that lowers tariffs on its cars. US president Donald Trump said on Tuesday that a trade deal with Tokyo will include Japan paying a lower-than-threatened 15% tariff on shipments to the US. It also comes after an agreement with the Philippines that will see the US collect a 19% tariff rate on imports from there. Trump added that said representatives from the European Union were coming for trade negotiations on Wednesday, even as the EU was reportedly refining countermeasures in case of a deadlock before the 1 August deadline. Shares of carmakers surged on the back of the news with Mazda Motor (7261.T) rallying 17% and Toyota (7203.T) jumping more than 14%. Meanwhile the Hang Seng (^HSI) rose 1.3% in Hong Kong and the Shanghai Composite ( was 0.3% up by the end of the session. In South Korea, the Kospi (^KS11) added 0.4% on the day, with carmakers in the country also rising as the Japan deal fuelled optimism over potential progress in tariff negotiations between South Korea and the US. Across the pond on Wall Street, stocks inched to another record following some mixed profit reports. The S&P 500 (^GSPC) rose 0.1% to the all-time high it had set the day before, closing at 6,309.62, and the tech-heavy Nasdaq (^IXIC) slipped 0.4% from its own record, to 20,892.68. The Dow Jones (^DJI) gained 0.4% to end at 44,502.44. Coming up Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including US existing home sales for June, and the Euro Area's preliminary consumer confidence reading for July. Otherwise, earnings releases include Alphabet (GOOG) and Tesla (TSLA). Here's a snapshot of what's on the agenda: 7am: Trading updates: Kier, Compass Group, Mitie, Greencore, Marstons, ME Group 7am: UK Public Sector Net Borrowing 9.30am: Supreme Court to rule on appeal against LIBOR and EURIBOR convictions of Tom Hayes and Carlo Palombo 12pm: US weekly mortgage approvals data 3pm: US new home salesIndonesia to pay 19% tariff rate And the tariff news doesn't stop there... It has been announced that Indonesia is set to pay a 19% tariff rate. Trump posted: And the tariff news doesn't stop there... It has been announced that Indonesia is set to pay a 19% tariff rate. Trump posted: US also strikes trade deal with the Philippines Separately, Trump also announced that the US would levy a 19% tax on imports from the Philippines. He wrote on social media that the new tariff was part of a wider pact, in which the Philippines would remove duties on US goods and the two countries would cooperate militarily. "It was a beautiful visit, and we concluded our Trade Deal," Trump wrote on Truth Social, offering no further details about the apparent agreement. Compared to Japan, the Philippines is a relatively small trade partner with the US. Last year it sent around $14.2bn worth of goods to America, including car parts, electric machinery, textiles and coconut oil. Separately, Trump also announced that the US would levy a 19% tax on imports from the Philippines. He wrote on social media that the new tariff was part of a wider pact, in which the Philippines would remove duties on US goods and the two countries would cooperate militarily. "It was a beautiful visit, and we concluded our Trade Deal," Trump wrote on Truth Social, offering no further details about the apparent agreement. Compared to Japan, the Philippines is a relatively small trade partner with the US. Last year it sent around $14.2bn worth of goods to America, including car parts, electric machinery, textiles and coconut oil. Japan welcomes US trade deal Japanese prime minister Shigeru Ishiba welcomed the US-Japan trade deal on Wednesday. He said: It comes as Japan was the fourth largest single-country export market for US agriculture and related products in 2022, valued at nearly $17bn (£12.5bn). This is according to a report from the International Trade Administration. The US was the country's largest supplier of food and agricultural products, followed by the EU, China, Australia, and Thailand. Japan was also the biggest export market for US beef and pork, valued at roughly $5bn combined, and the second largest market for US corn, valued at $3.3bn. Japanese prime minister Shigeru Ishiba welcomed the US-Japan trade deal on Wednesday. He said: It comes as Japan was the fourth largest single-country export market for US agriculture and related products in 2022, valued at nearly $17bn (£12.5bn). This is according to a report from the International Trade Administration. The US was the country's largest supplier of food and agricultural products, followed by the EU, China, Australia, and Thailand. Japan was also the biggest export market for US beef and pork, valued at roughly $5bn combined, and the second largest market for US corn, valued at $3.3bn. Asia and US overnight Stocks in Asia were higher overnight, with the Nikkei (^N225) surging 3.7% to a one-year high in Japan as the country struck a trade deal with the United States that lowers tariffs on its cars. US president Donald Trump said on Tuesday that a trade deal with Tokyo will include Japan paying a lower-than-threatened 15% tariff on shipments to the US. It also comes after an agreement with the Philippines that will see the US collect a 19% tariff rate on imports from there. Trump added that said representatives from the European Union were coming for trade negotiations on Wednesday, even as the EU was reportedly refining countermeasures in case of a deadlock before the 1 August deadline. Shares of carmakers surged on the back of the news with Mazda Motor (7261.T) rallying 17% and Toyota (7203.T) jumping more than 14%. Meanwhile the Hang Seng (^HSI) rose 1.3% in Hong Kong and the Shanghai Composite ( was 0.3% up by the end of the session. In South Korea, the Kospi (^KS11) added 0.4% on the day, with carmakers in the country also rising as the Japan deal fuelled optimism over potential progress in tariff negotiations between South Korea and the US. Across the pond on Wall Street, stocks inched to another record following some mixed profit reports. The S&P 500 (^GSPC) rose 0.1% to the all-time high it had set the day before, closing at 6,309.62, and the tech-heavy Nasdaq (^IXIC) slipped 0.4% from its own record, to 20,892.68. The Dow Jones (^DJI) gained 0.4% to end at 44,502.44. Stocks in Asia were higher overnight, with the Nikkei (^N225) surging 3.7% to a one-year high in Japan as the country struck a trade deal with the United States that lowers tariffs on its cars. US president Donald Trump said on Tuesday that a trade deal with Tokyo will include Japan paying a lower-than-threatened 15% tariff on shipments to the US. It also comes after an agreement with the Philippines that will see the US collect a 19% tariff rate on imports from there. Trump added that said representatives from the European Union were coming for trade negotiations on Wednesday, even as the EU was reportedly refining countermeasures in case of a deadlock before the 1 August deadline. Shares of carmakers surged on the back of the news with Mazda Motor (7261.T) rallying 17% and Toyota (7203.T) jumping more than 14%. Meanwhile the Hang Seng (^HSI) rose 1.3% in Hong Kong and the Shanghai Composite ( was 0.3% up by the end of the session. In South Korea, the Kospi (^KS11) added 0.4% on the day, with carmakers in the country also rising as the Japan deal fuelled optimism over potential progress in tariff negotiations between South Korea and the US. Across the pond on Wall Street, stocks inched to another record following some mixed profit reports. The S&P 500 (^GSPC) rose 0.1% to the all-time high it had set the day before, closing at 6,309.62, and the tech-heavy Nasdaq (^IXIC) slipped 0.4% from its own record, to 20,892.68. The Dow Jones (^DJI) gained 0.4% to end at 44,502.44. Coming up Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including US existing home sales for June, and the Euro Area's preliminary consumer confidence reading for July. Otherwise, earnings releases include Alphabet (GOOG) and Tesla (TSLA). Here's a snapshot of what's on the agenda: 7am: Trading updates: Kier, Compass Group, Mitie, Greencore, Marstons, ME Group 7am: UK Public Sector Net Borrowing 9.30am: Supreme Court to rule on appeal against LIBOR and EURIBOR convictions of Tom Hayes and Carlo Palombo 12pm: US weekly mortgage approvals data 3pm: US new home sales Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including US existing home sales for June, and the Euro Area's preliminary consumer confidence reading for July. Otherwise, earnings releases include Alphabet (GOOG) and Tesla (TSLA). Here's a snapshot of what's on the agenda: 7am: Trading updates: Kier, Compass Group, Mitie, Greencore, Marstons, ME Group 7am: UK Public Sector Net Borrowing 9.30am: Supreme Court to rule on appeal against LIBOR and EURIBOR convictions of Tom Hayes and Carlo Palombo 12pm: US weekly mortgage approvals data 3pm: US new home sales Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Trump Reaches Japan Deal With Tariff Rate Set at 15%
Trump Reaches Japan Deal With Tariff Rate Set at 15%

Bloomberg

time3 hours ago

  • Automotive
  • Bloomberg

Trump Reaches Japan Deal With Tariff Rate Set at 15%

Good morning. Donald Trump announces a trade deal with Japan. The German and French leaders meet in Berlin tonight. And Ozzy Osbourne has died. Listen to the day's top stories. The US president announced a deal with Japan that sets tariffs on the nation's imports at 15%, including for autos—by far the biggest component of the trade deficit between the countries. The agreement provides some clarity on the broad contours of a new trade landscape. Talks continue with major economies including the European Union and India.

Trump announces 'massive' Japan trade deal including 15 percent tariff
Trump announces 'massive' Japan trade deal including 15 percent tariff

RNZ News

time5 hours ago

  • Automotive
  • RNZ News

Trump announces 'massive' Japan trade deal including 15 percent tariff

An extra edition of Japanese daily newspaper is published reporting that the United States of America and Japan had agreed on a 15 percent tariff in Osaka City. Photo: AFP / Takumi Harada US President Donald Trump has announced a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent ahead of a 1 August deadline. Trump has vowed to hit dozens of countries with punitive tariffs if they don't strike a deal with the United States by next month. So far, Trump has only announced pacts with Japan, Britain, Vietnam, the Philippines and Indonesia, while talks continue with other trade partners. "We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump said on his Truth Social platform. Trump said that under the deal, "Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits." He did not provide further details on the unusual investment plan, but said the deal "will create Hundreds of Thousands of Jobs." Japanese imports into the United States were already subject to a 10-percent tariff, which would have risen to 25 percent on August 1 without a deal. Duties of 25 percent on Japanese autos - an industry accounting for eight percent of Japanese jobs - were also already in place, as well as 50 percent on steel and aluminum. Japanese Prime Minister Shigeru Ishiba said on Wednesday in Tokyo that the autos levy was cut to 15 percent. "We are the first (country) in the world to reduce tariffs on automobiles and auto parts, with no limits on volume," he told reporters. "We think it is a great achievement that we were able to get the largest cut (in tariffs) among countries which have trade surpluses with the US," he said. This sent Japanese auto stocks soaring on Wednesday, including Toyota which rocketed more than 12 percent. US-bound shipments of Japanese cars tumbled 26.7 percent in June, stoking fears that Japan could fall into a technical recession. Last year vehicles accounted for around 28 percent of Japan's 21.3 trillion yen (NZ$241.2 billion) of exports to the world's biggest economy. To Trump's annoyance, US-made cars sell poorly in Japan, with only hundreds sold annually for the likes of General Motors, compared to millions of Toyotas bought by US motorists. The US president also wanted Japan to increase imports of rice, the price of which has soared in recent months in the Asian giant, and of US oil and gas. But Trump said Tuesday that Japan has agreed to "open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things". Rice imports are a sensitive issue in Japan, and Ishiba's government - which lost its upper house majority in elections on Sunday - had previously ruled out any concessions. Ishiba, whose future is uncertain following the election, said on Wednesday that the deal does not sacrifice Japan's agricultural sector. Trump has been under pressure to wrap up trade pacts after promising a flurry of deals ahead of his 1 August tariff deadline. Earlier on Tuesday, he announced a deal had been reached with the Philippines which would see the country face 19 percent tariffs on its exports. The White House also laid out details of a deal with Indonesia, which would see it ease critical mineral export restrictions and also face a 19 percent tariff, down from a threatened 32 percent. Indonesian goods deemed to have been transshipped to avoid higher duties elsewhere, however, will be tariffed at 40 percent, a US official told reporters Tuesday. After an escalatory tit-for-tat with China, the two major economies agreed to a temporary lowering of tariffs, with another round of negotiations expected next week in Stockholm. Since returning to the White House in January, Trump has imposed a sweeping 10 percent tariff on allies and competitors alike, alongside steeper levels on steel, aluminum and autos. Legal challenges to Trump's non-sectoral tariffs are ongoing. - AFP

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