U.S. stocks set more records on Wednesday following a trade deal between the world’s No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports coming to the United States. The Dow Jones Industrial Average rallied 507 points,

Donald Trump says the US has reached trade deals with Japan and the Philippines, in what would be a major development in his tariffs war Japan, one of the US's largest trading partners, confirmed it had reached a deal which would see tariffs and vehicle import levies cut from 25% to 15% The US president also announced a deal with the Philippines and gave more details on an agreement with Indonesia that was announced last week The announcements come ahead of an August 1 deadline,

Trump reset tariffs on goods from Japan imported to the U.S. to 15%, which is lower than the 25% he threatened in a letter earlier this month. He said Japan had agreed to invest $