Wall Street climbed on Wednesday after President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese auto sector to 15% from 27.

Japan's exports to the US are to face a 15% baseline tariff and the EU is more confident a similar rate can be agreed before 1 August.

After months of fraught negotiations with the United States, Japan clinched a deal just days before punitive tariffs were scheduled to take effect.