A day after the United States reached a trade deal that imposes a 15 percent tariff on imports from Japan, President Donald Trump declared that U.S. business would “BOOM.” But early reads from auto analysts paint a murkier picture — if anything, some experts say, Japanese companies may benefit more than their rivals for now.

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. The agreement as announced calls for a 15% import duty on goods imported from Japan,

Carmakers led the rally in Japan, where the Nikkei Stock Average surged 3.5% to its highest level in a year.