President Trump’s newly unveiled tariff rates are unlikely to change much, his trade adviser and National Economic Council declared, while downplaying the risk of market turmoil.

Trump said the U.S. will impose a 15% tariff on Japanese imports under the agreement, which he hailed as "maybe the largest deal in history."

That's down from the 25% levies he proposed earlier this month. Japan's prime minister says duties on autos from his nation will be cut to 15% from 25%.