India, July 23 -- Asian stocks closed mostly higher on Wednesday after U.S. President Donald Trump announced trade agreements with Japan and the Philippines, easing concerns about the tariff war.

The "largest ever" U.S. trade deal with Japan features a 15 percent tariff on Japanese exports and includes a commitment from Tokyo to invest $550 billion in the United States and open its markets for American vehicles, rice, and other agricultural goods.

Trump claimed the U.S. would receive 90 percent of profits from the agreement and that the pact could generate hundreds of thousands of American jobs.

According to Trump, the new trade pact with the Philippines would make the county an open market with zero tariffs on U.S. goods, but with Manil...