Forget 25% tariffs because Japan just got a major discount.

Good morning. This is the Marketplace Morning Report and we're live from the BBC World Service.

I'm Leanna Byrne.

So President Trump called it the biggest trade deal in history as he announced the world's fourth-hardest economy, Japan,

has struck an agreement to lower threatened US tariffs after weeks of tense negotiations.

Under the deal, the US will cut its import tax on Japanese cars and parts from 25% to 15.

The BBC's Sir and Jana Tuari has been following this for us. Hello.

Hi there. Tell me what your take is on this tariff's deal. Well, it seems like a win-win, not just for us. Hello. Hi there. Tell me what your take is on this Tower of Steel. Well, it seems like a

win-win, not just for Japan, but also for the US and potentially the global economy. It's only

going to have 15% import duties on its goods going into the US. That's as far as we know about the

terms of the deal. And the US in return will get

$550 billion of investment from Japan. Also, perhaps it's agricultural products and other things

that the US makes and wants to sell in Japan. What's the market reaction been? Investors certainly

like the sound of this deal. I mean,

Japan's Niki was up more than 3.7%. We saw shares in carmakers doing really well, especially

Toyota. And that contagion really spread to South Korea, where there are, of course, many carmakers

like Hayundai. Also, other countries like South Korea and Taiwan there are, of course, many carmakers like Hayundai.

Also, other countries like South Korea and Taiwan, they have their own trade negotiations

with the US right now. So could that also be a benchmark for them?

Absolutely. And that's what the South Korean negotiator said as he was boarding a plane

to Washington. Indonesia and the Philippines, which was announced overnight as well,

the deal with the Philippines and between the Philippines and the US,

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