Adding to the pressure, there's declining demand for Japanese government bonds domestically. This forces Japan to raise interest rates, which in turn makes holding U.S. Treasurys even less attractive.

President Donald Trump touted a "blockbuster agreement" between U.S. Steel and Japanese company Nippon Steel that he said would keep the U.S. steelmaker in Pittsburgh.

President Trump announced Friday he'll double steel tariffs from 25% to 50% during a visit at a U.S. Steel mill in the ...