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.

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

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.

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

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

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

As President Donald Trump’s tariffs add to a sense of uncertainty in Japan, the Sanseito party and its leader Sohei Kamiya made gains on a “Japanese first” platform.