While the announcement was cause for optimism ahead of Aug. 1, analysts remained concerned about the steep tariffs still looming for key trading partners such as Brazil and the EU.

Japan's trade agreement with the U.S. could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight,

Deal-signing at the German cloud computing and software giant SAP turned cautious in the second quarter, CFO Dominik Asam told CNBC.

News of a US-Japan trade deal, though details remain vague, sent equities higher, with the Nikkei rising 3.5% during the morning session. However, the USDJPY and Japanese government bonds declined as fiscal concerns and reports of Prime Minister Shigeru Ishiba stepping down soon

Bank of Japan Deputy Governor Shinichi Uchida said Wednesday that a tariff deal between Japan and the United States is a

An emerging U.S.-Japanese trade deal could unlock major investment, avert a potential shock to the global economy and may deliver political wins for both U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba,