Abnormal movement in US stocks | US lowers tariffs on Japanese cars to 15%, Toyota Motors (TM.US) surges over 13%

According to the Zhitong Finance APP, on Wednesday, the stock prices of Japanese automotive stocks surged in the US market, with Toyota Motor (TM.US) rising more than 13% and Honda Motor (HMC.US) rising more than 12%. On the news front, President Trump said on July 23 through social media that the US and Japan had "completed a previously unprecedented deal." According to the agreement, Japan will invest $55 billion in the US, and the US will receive 90% of the investment profits. According to the Japanese Broadcasting Corporation (NHK), citing government officials, one of the key points of the US-Japan trade agreement is to reduce US tariffs on Japanese cars from 25% to 15%. As a pillar industry of Japanese exports to the US, the automotive industry accounts for more than a quarter of Japan's total exports to the US.