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.

Shares for European stocks jumped on prospects of a trade deal between the EU and US as Japan struck a deal to reduce tariffs on its autos.

Tokyo stocks soared more than 3 percent Wednesday morning after U.S. President Donald Trump said he had struck a