Markets rally as Japan–US deal eases global trade uncertainty

Japan’s trade agreement with the US could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15 per cent level agreed overnight, economists said.

Tokyo’s deal with the US lowers tariffs on auto imports to 15 per cent from levies totalling 27.5 per cent previously. Duties that were due to come into effect on other Japanese goods