U.S. automakers worry that President Donald Trump's agreement to tariff Japanese vehicles at 15% would put them at a competitive disadvantage, saying they will face steeper import taxes on steel, aluminum and parts than their competitors.

Asian shares rallied on Wednesday, with Tokyo’s benchmark Nikkei 225 index up more than 3% after Japan and the U.S. announced a deal on President Donald Trump’s tariffs.

Having said that, US automakers have signalled they are unhappy with the deal.