Sohei Kamiya's Sanseitō Party won 14 seats in Japan's Upper House elections, appealing to young voters with a "Japanese first" platform focused on culture, birth rates and food security.

"The trade deal struck with the U.S. is certainly a relief in that it offers some certainty that U.S. tariffs on Japan-made cars won't rise to punitive levels," said Stefan Angrick, head of Japan and Frontier market economics at Moody's Analytics.

When President Donald Trump revealed that his administration had struck a "massive" trade and investment deal with Japan, he described it as "completed"—but it must still pass the Japanese parliament, called the Diet, which is riven with political turmoil.

The Japanese government, not companies, is poised to back U.S. infrastructure projects of the president’s choosing.

Outside economists say that high tariffs are still likely to raise prices for American consumers, dampen the Federal Reserve’s ability to lower interest rates and make the U.S. economy less efficient over time. Democrats say the middle class and poor will ultimately pay for the tariffs.

U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports and spares Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans.

Jim Cramer's on-air profanity during "Squawk on The Street" came while discussing Trump's new EU trade deal that includes a 15 percent tariff on most European goods imported to the U.S.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.