Nippon Steel has successfully acquired U.S. Steel after an 18-month process, with the deal now including concessions such as a "golden share" for the U.S. government.

Trump’s initial April 2 “Liberation Day” announcement of across-the-board tariffs on countries around the world sent markets into a tailspin. Trump relented – temporarily – announcing a 90-day cessation on higher tariffs, while imposing a 10 percent baseline levy on all trading partners.

Japanese Prime Minister Shigeru Ishiba called the announcement of slightly higher US tariffs “truly regrettable” while he vowed to continue to protect his nation’s interests in the extended trade negotiations.