Toyota Leads Share Gains on Trade Deal With 15% Cars Tariff (3)

US President Donald Trump agreed to a 15% tariff on automobiles imported from Japan, ending months of uncertainty and fueling a rally in shares of Toyota Motor Corp. and other carmakers.

Trump announced earlier on Wednesday that the two trading partners had reached a deal following protracted negotiations. Toyota rose as much as 16%, the most since 1987 on an intraday basis, before closing up 14.3% while Honda Motor Co. gained more than 12% and Nissan Motor Co. was up 10%.

The agreement should provide Japan’s automakers with a modicum of relief and much-needed clarity considering they’d been bracing for ...