Shares of General Motors , Ford Motor , and Jeep-maker Stellantis , some of the biggest automakers in the U.S., rallied on Wednesday after news of a trade deal that will reduce tariffs on imported Japanese cars,

Japan's chief negotiator, Economic Revitalization Minister Ryosei Akazawa, had been working on a deal since April. He's made eight trips to Washington, pressing the case in person. After the deal news broke, he tweeted a photo of himself at the White House: "Mission complete. Sincere thanks to all involved."

The EU and US are closing in on a trade deal that would impose 15 per cent tariffs on European imports, similar to the agreement Donald Trump struck with Japan this week. The latest: Brussels could agree to the so-called reciprocal levies to avoid the US president’s threat to raise them to 30 per cent from August 1,