"The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold."

Trump said the U.S. will impose a 15% tariff on Japanese imports under the agreement, which he hailed as "maybe the largest deal in history."

Japan will invest $550 billion in the U.S. and allow the U.S. to tax Japanese goods sold in America at 15 percent.

Analysts at Bank of America said that the Japan deal "looks like a reasonable blueprint" for other auto-exporting countries like South Korea.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

That's down from the 25% levies he proposed earlier this month. Japan's prime minister says duties on autos from his nation will be cut to 15% from 25%.

White House Press Secretary Karoline Leavitt said, "Japan will now pay a 15% tariff versus the reciprocal rate of 24% that they initially had."

Following the news of reduced tariffs on Japanese car imports as part of President Donald Trump’s new trade deal with Japan, automakers in the land of the rising sun have much to say about what went down and how it impacts their business.

Japan’s surprise trade deal with the US sent its markets on a wild ride, pushing stocks to all-time highs and fueling a selloff in government bonds.