Trump Trade: U.S. announces 15% tariff on goods from Japan

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:

U.S.-JAPAN TRADE DEAL: Shares of several Japanese carmakers, including Toyota (TM) and Honda (HMC) were on the rise on Wednesday after President Trump announced 15% tariff on goods from Japan. The U.S. President said in a post on Truth Social, “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 will pay Reciprocal Tariffs to the United States of 15%. This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!” Nissan (NSANY), Mazda (MZDAY), and Subaru (FUJHY) are among other publicly traded Japanese automakers trading higher on Wednesday.

After President Trump announced that the U.S. and Japan reached a trade deal that media reports indicate will lower tariffs, including on vehicles imported to the U.S. from Japan to 15% from the current 25% rate, BofA notes that despite the two trading partners having found an agreement, the rate appears set at 15, while before the initial tariff announcements the rate was at 2.5%. The firm views the deal as a negative for domestic OEMs Ford (F) and General Motors (GM) and it implies that Japanese competitors, such as Toyota, Honda, and Nissan, now face lower cost of entry into the U.S. market while Ford and GM still face a 25% tariff rate on vehicles produced and imported from Korea, Canada and Mexico.

U.S.-INDONESIA TRADE DEAL: In a Truth Social post, President Donald Trump stated, “It is my Great Honor to announce our Trade Agreement with the Republic of Indonesia, as represented by their Highly Respected President, Prabowo Subianto. 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. – The Best Market in the World! In addition, Indonesia will supply the United States with their precious Critical Minerals, as well as sign BIG Deals, worth Tens of Billions of Dollars, to purchase Boeing Aircraft, American Farm products, and American Energy. This Deal is a HUGE WIN for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!”

BEZOS MEETS WITH TRUMP: Eamon Javers, senior Washington correspondent for CNBC, said via X that, “I’m told by two sources familiar that President Trump met with billionaire Jeff Bezos at the White House last week for more than an hour. No details available on topics discussed between the two men, but clearly there’s a lot to talk about.”

FED CHAIR: Treasury Secretary Bessent sees no reason for Fed Chair Powell to “step down right now,” in a Fox Business interview. “His term ends in May. If he wants to see that through, I think he should.” That should help take some of the heat off of Powell and some of the worry out of the bond market. Bessent stressed the need to keep monetary policy sacrosanct, “off to the side – that should be kind of like in a jewel box.” However, he did suggest the chair should “right-size the non-monetary policy functions of the Fed” for his own legacy. Bessent also warned that since the financial crisis, the Fed has developed a “gain-of-function monetary policy” that has seen expenses rise a lot. On tariffs he said a rash of deals is about to be announced in days. He will meet with Chinese counterparts in Stockholm next week and expects to be working on an extension to the April 12 deadline. The Treasury Secretary also said he would not be surprised if a deal was reached with Japan quickly.

Meanwhile, President Trump said to reporters in the Oval Office that Federal Reserve Chair Jerome Powell will be “out soon,” in around eight months.

SETTLEMENT: President Trump said via Truth Social that, “BREAKING NEWS! We have just achieved a BIG AND IMPORTANT WIN in our Historic Lawsuit against 60 Minutes, CBS, and Paramount (PARA, PARAA). Just like ABC and George Slopadopoulos, CBS and its Corporate Owners knew that they defrauded the American People, and were desperate to settle. Paramount/CBS/60 Minutes have today paid $16 Million Dollars in settlement, and we also anticipate receiving $20 Million Dollars more from the new Owners, in Advertising, PSAs, or similar Programming, for a total of over $36 Million Dollars. This is another in a long line of VICTORIES over the Fake News Media, who we are holding to account for their widespread fraud and deceit. The Wall Street Journal, The Failing New York Times, The Washington Post, MSDNC, CNN, and all other Mainstream Media Liars, are ON NOTICE that the days of them being allowed to deceive the American People are OVER.”