US strikes trade deal with Japan | KTVU

US strikes trade deal with Japan | KTVU

Line. The Trump administration says it is making progress on negotiating new trade deals. And just this afternoon, the president announced that he has reached a deal with Japan that would lower his threatened 25% tariff to 15%. Fox’s Madeline Rivera has more from Washington. >> The white House says it will announce a number of trade deals in the coming days, ahead of President Trump’s August 1st deadline, and that timeline could change for others if negotiations are making progress. >> A lot of these trade deals are going to include substantial investments in the U.S. >> In May, the U.S. And China announced a temporary deal that would lower tariffs on Chinese goods to 30%, and they plan to reach a more permanent agreement by August 12th. Treasury Secretary Scott Bessent says he will meet with his Chinese counterpart next week to discuss another extension. >> We’ve actually moved to a new level with China where it’s very constructive and very we’re able we’re going to be able to get a lot of things done now. >> But negotiations with India, the European Union and Japan have been more challenging. And Democrats warn the steep tariffs could hurt the U.S. And global economy. >> We need to make sure that this country walks away from the reckless Trump tariffs, which are going to increase costs on everyday Americans. >> The threat of tariffs is also looming over the pharmaceutical industry. Yesterday AstraZeneca announced it’s investing $50 billion in U.S. Manufacturing and research capabilities by 2030. >> Part of it was our plan. But certainly it’s very clear the tariffs are further incentive for companies to locate their manufacturing plants. >> AstraZeneca says it’s also planning to build a state of the art facility in Virginia as part of its investment at the white House. Matthew Rivera, Fox News. >> Well, coming up, a piece of nostalgia is making a comeback. We’ll tell you where pay phones are getting a

President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation.

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