The United States and Japan have reached a trade agreement, with a 15% tariff and $500 billion in investment. It is estimated that there will be tariffs on the steel and automotive industries (either reducing tax rates or exempting quotas) in the future details. We previously talked about Shigeru Ishiba's tough stance for the Japanese Senate election for three months, but the final election results were disastrous and his attitude softened accordingly. Next, let's take a look at the negotiations between the United States, the European Union, South Korea, and Canada and Mexico. As discussed a week ago, the best scenario is for the EU, Japan, South Korea, Canada, Mexico, and the United States to make some concessions and reach an agreement before August 1st. Trump gets most (but not all) of what he wants, and the EU, Canada, Mexico, Japan and South Korea can also accept it. Everyone is happy. I hope to achieve the best script