Treasury Secretary Scott Bessent stopped short of saying the European Union can win the same sort of trade deal as Japan cut with President Donald Trump, highlighting that Tokyo’s success came thanks to an innovative financing arrangement.

Oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a U.S. tariff deal with Japan ahead of a U.S. stocks data announcement.

Citi economist Katsuhiko Aiba said the U.S.-Japan trade deal could influence the course of talks with other major auto exporters, namely the EU and South Korea.

A bad night for the ruling coalition could cost the prime minister his job and make it harder to strike a deal with Washington before the August tariff deadline.

The EU and Japan pledged on Wednesday to work together on championing a "free and fair" trade global system, as US tariffs and disputes with China rattle their economies.Facing a swirl of speculation over his future following a weekend election debacle,

But more big tests loom with trade talks still continuing between the Trump administration and counterparts in China and the European Union.

The LDP’s loss in the upper house is another blow to Prime Minister Shigeru Ishiba, who has been struggling to close a trade deal with the Trump administration.

After President Trump unveiled trade deals Tuesday with Japan and the Philippines, and [his administration fleshed out details of a pact with Indonesia](