Japanese automakers breathed a sigh of relief after U.S. President Donald Trump finalized a trade agreement last week. However, the relief is tempered by intensifying competition, especially from China,

After months of delays, President Trump’s long-awaited global tariffs are slated to take effect at the end of this week. Trump on April 2 announced “reciprocal” tariffs on dozens of other countries, using trade deficits to help calculate the tariff rate.