President Trump announces a trade deal framework with Japan, imposing a 15% tariff on Japanese imports while eliminating tariffs on U.S. exports to Japan.

The new trade agreement between the U.S. and the European Union will lift tariffs on imports of goods from EU countries to their highest level in decades and hurt the trading bloc's economic growth, according to some experts.

Analysts at Bank of America said that the Japan deal "looks like a reasonable blueprint" for other auto-exporting countries like South Korea.