Nikkei 225 · July 23, 2025
The day the tariff came down
+3.51%
single-day change vs previous close
Part of a longer stretch
The Nikkei's rebound after the tariff pause
near the end of it · 2025-04-07 → 2025-08-12, +37.20% over the whole period
What happened that day?
- 23 July 2025 — the Nikkei 225 rose 3.51% to close at 41,171.32
- A tariff agreement with Japan had been announced from the American side overnight. The rate to be charged on Japanese goods came down sharply from what had been threatened
- A higher rate was due to take effect on 1 August. Arriving before that deadline, the deal cleared the uncertainty all at once
- Carmakers rose most. The rate lands directly on their export prices, so the effect is the most immediate there
- The deal also included Japanese commitments to invest in the United States — the consideration for the lower rate
- A tariff changes the terms rather than the price. While the number is unknown, a company can fix neither its prices nor its production
- This close turned out to be the high of the episode: the index gave back 2.14% by 4 August
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is put together from the public record; where a specific source was consulted it is listed above.