U.S. President Donald Trump’s trade deal with Japan has sparked fresh optimism that the global economy will manage to avoid getting hit with extremely elevated tariffs, even as many U.S. trading partners still don’t have agreements.

Japan will invest $550 billion in the U.S. and allow the U.S. to tax Japanese goods sold in America at 15 percent.

The trade group representing the traditional Big Three US automakers is objecting to the US agreement with Japan, saying it would be unfair to American automakers and parts suppliers.