Asian shares rallied on Wednesday, with Tokyo’s benchmark Nikkei 225 index up more than 3% after Japan and the U.S. announced a deal on President Donald Trump’s tariffs.
The agreement as announced calls for a 15% import duty on goods imported from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That’s down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached.
