TOKYO: Japan’s Nikkei share average rose on Tuesday, buoyed by a weakening yen and as US President Donald Trump gave an additional three-week grace period for tariff negotiations.
The Nikkei gained 0.26% to end at 39,688.81. The broader Topix added 0.17%.
On Monday, Trump began telling selected trade partners that they will see higher tariff rates from August 1, with the original three-month moratorium on “Liberation Day” reciprocal levies expiring on Wednesday. Japan will now see a rate of 25%.
Prime Minister Shigeru Ishiba said his administration would continue negotiations with the White House to seek a mutually beneficial bilateral deal. Initially touted by Trump’s team as a likely early success, talks with Tokyo remain stalled for weeks, largely over a 25% tariff on Japanese auto imports.
“It’s very clear that it will be very difficult” to overcome the obstacles to an agreement on autos, said the chief macro strategist at Sumitomo Mitsui DS Asset Management, Masayuki Kichikawa, who sees the 25% duty on the sector sticking.
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