Fact Sheet: President Donald J. Trump Secures Unprecedented U.S.–Japan Strategic Trade and Investment Agreement

Fact sheetTrade dealPublished 25/07/23Open the original

Summary

President Trump announces an economic agreement with Japan: Japan invests $550 billion directed by the U.S. into sectors including energy and LNG, semiconductors, critical minerals, pharmaceuticals and shipbuilding, with the U.S. keeping 90% of the profits; Japanese imports face a baseline 15% tariff, and Japan raises U.S. rice imports by 75% and buys $8 billion of U.S. goods.

By industry

Tariffs & Reshoring1 trading day+0.3%p15 stocks5 trading days−5.5%p15 stocks20 trading days−8.7%p15 stocks
“imports from Japan will be subject to a baseline 15% tariff rate”
Semiconductors & CHIPS Act1 trading day−0.4%p15 stocks5 trading days+2.0%p15 stocks20 trading days−3.0%p15 stocks
“Semiconductor manufacturing and research, rebuilding U.S. capacity from design to fabrication”
Shipbuilding & MASGA1 trading day+2.0%p15 stocks5 trading days+2.1%p15 stocks20 trading days+1.6%p15 stocks
“Commercial and defense shipbuilding, including new yards and modernization of existing facilities”

Day by day after the announcement

Tariffs & Reshoring stocks and the S&P 500 after the announcement, cumulative %
Day	Tariffs & Reshoring stocks	S&P 500
25/07/22	0.0%	0.0%
25/07/23	+1.3%	+0.9%
25/07/24	−2.1%	+0.9%
25/07/25	−1.2%	+1.3%
25/07/28	−3.0%	+1.3%
25/07/29	−4.6%	+1.0%
25/07/30	−5.7%	+1.3%
25/07/31	−8.4%	+0.5%
25/08/01	−10.8%	−1.1%
25/08/04	−11.0%	+0.5%
25/08/05	−9.7%	−0.2%
25/08/06	−10.5%	+0.6%
25/08/07	−9.9%	+0.6%
25/08/08	−9.3%	+1.5%
25/08/11	−9.9%	+1.1%
25/08/12	−6.4%	+2.2%
25/08/13	−4.2%	+2.5%
25/08/14	−5.3%	+2.6%
25/08/15	−6.8%	+2.2%
25/08/18	−7.4%	+2.3%
25/08/19	−6.9%	+1.8%

Korean stocks in these industries

Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030
Samsung Electronics 005930
SK hynix 000660
SKC 011790
Hanwha Ocean 042660
HD Hyundai Heavy Industries 329180
HD Korea Shipbuilding & Offshore Engineering 009540
Samsung Heavy Industries 010140

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

John T. Kim10% Owner
BuyAmkor Technology
Buy
Amkor Technology
AMKR
$9.6M
441,589 sh
$9.6M
Filed 25/08/05
Traded 25/08/01
David D. KimOther
BuyAmkor Technology
Buy
Amkor Technology
AMKR
$9.6M
441,589 sh
$9.6M
Filed 25/08/05
Traded 25/08/01
Sujoda InvestmentsOther
BuyAmkor Technology
Buy
Amkor Technology
AMKR
$9.6M
441,589 sh
$9.6M
Filed 25/08/05
Traded 25/08/01
Sujoda ManagementOther
BuyAmkor Technology
Buy
Amkor Technology
AMKR
$9.6M
441,589 sh
$9.6M
Filed 25/08/05
Traded 25/08/01
Susan Y. KimDirector
BuyAmkor Technology
Buy
Amkor Technology
AMKR
$9.6M
441,589 sh
$9.6M
Filed 25/08/05
Traded 25/08/01
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$9.7M
53,466 sh
$9.7M
Filed 25/08/18
Traded 25/08/14
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$9.3M
53,807 sh
$9.3M
Filed 25/07/18
Traded 25/07/17
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$9M
51,901 sh
$9M
Filed 25/07/23
Traded 25/07/21
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$8.5M
46,436 sh
$8.5M
Filed 25/08/13
Traded 25/08/11
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$8.5M
54,331 sh
$8.5M
Filed 25/06/26
Traded 25/06/26
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$8.2M
45,688 sh
$8.2M
Filed 25/08/18
Traded 25/08/15
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$8.1M
46,701 sh
$8.1M
Filed 25/07/28
Traded 25/07/25
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$8M
49,324 sh
$8M
Filed 25/07/10
Traded 25/07/09
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$7.7M
49,070 sh
$7.7M
Filed 25/07/01
Traded 25/06/30
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$7.6M
44,727 sh
$7.6M
Filed 25/07/18
Traded 25/07/16
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$7.5M
40,901 sh
$7.5M
Filed 25/08/08
Traded 25/08/08
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$7.4M
46,971 sh
$7.4M
Filed 25/07/07
Traded 25/07/07
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$7.3M
43,439 sh
$7.3M
Filed 25/07/23
Traded 25/07/22
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$7.3M
44,176 sh
$7.3M
Filed 25/07/15
Traded 25/07/14
Jen Hsun HuangPresident and CEO
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$7.2M
42,447 sh
$7.2M
Filed 25/07/15
Traded 25/07/15