Asia-Pacific markets traded higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto import tariff of 15%, down from 27.5%.

The order also confirmed the agreement for $550 billion of Japanese investments in U.S. projects.

Japan's Nikkei 225 jumped 1.39% and the Topix added 0.86% after thge country's July household spending rose 1.4% year over year.

South Korea's Kospi climbed 0.26%, while the Kosdaq jumped 0.35%.

Several Asian chip stocks jumped after Trump said Thursday stateside that his administration plans to slap tariffs on semiconductor imports from firms that do not move production to the United States. The comments came ahead of Trump's dinner with top technology CEOs at the renovated Rose Garden.

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