Japan said on Tuesday the trade agreement it struck with the U.S. cleared uncertainties on U.S. trade policies but continued attention needs to be given to risks of those policies putting downward pressure on the Japanese economy.

Japanese trade minister Muto Yoji says Tokyo and Washington need to act swiftly to implement their recent tariff deal.

The Bank of Japan is expected to hold rates steady during a two-day policy meeting that starts Wednesday. Although Japan and the United States achieved a breakthrough in trade talks last week, analysts said the central bank will likely maintain its cautious stance for some more time.

The deal reduces tariffs on Japanese exports, including autos and auto parts, to15 percent, in exchange for Japanese investment and import commitments.

While Greer acknowledged that he had previously suggested a deal with New Delhi might be imminent, he emphasized the significant policy shifts that would be required from India.

Devoted fans of Asian cosmetics will often buy direct from Asia and wait weeks for their packages to arrive because the products typically cost less than they do in American stores. Rather than stocking up on their favorite sunscreens, lip tints and toners, some shoppers are taking a pause due to the tariff uncertainty.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.