President Trump said on Tuesday that the trade deal he struck with one of America’s closest allies would impose a 15 percent tariff on Japanese exports.

View PDF After more than three months of formal negotiations and many more months of speculation about the Trump administration’s trade and economic policy toward Japan, Washington and Tokyo have agreed to a trade deal.

European stocks and Wall Street futures climbed again after the weekend deal between the United States and European Union averted a trade war between two allies that account for almost a third of global trade. The euphoria also lifted the dollar across the board.

After months of fraught negotiations with the United States, Japan clinched a deal just days before punitive tariffs were scheduled to take effect.