"The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold."

Japan will invest $550 billion in the U.S. and allow the U.S. to tax Japanese goods sold in America at 15 percent.

President Donald Trump announced a trade agreement with Japan on Tuesday, making it the largest U.S. trade partner to broker an accord as the White House threatens to impose tariffs on dozens of countries within days.

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

Trump said the U.S. will impose a 15% tariff on Japanese imports under the agreement, which he hailed as "maybe the largest deal in history."

Following the news of reduced tariffs on Japanese car imports as part of President Donald Trump’s new trade deal with Japan, automakers in the land of the rising sun have much to say about what went down and how it impacts their business.

That's down from the 25% levies he proposed earlier this month. Japan's prime minister says duties on autos from his nation will be cut to 15% from 25%.

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

President Donald Trump announced July 27 the United States had reached a trade deal with the European Union, days ahead of a self-imposed Aug. 1 deadline. Trump met with the EU's president, Ursula von der Leyen, during his trip to Scotland over the weekend, where the pair discussed terms and came to an agreement.