The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.

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.

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