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."

U.S. President Donald Trump has announced a flurry of trade deals that will relieve some pressure on companies and consumers from sharply higher tariffs on imports from Japan and a handful of other Asian countries.

Shares of Japanese and South Korean automakers surged on Wednesday after U.S. President Donald Trump announced a trade deal with Tokyo that sources said would include reducing a tariff on Japanese auto imports to 15%,