President Trump announces trade deal with Japan that lowers threatened tariff to 15%

President Trump announces trade deal with Japan that lowers threatened tariff to 15%

The time is 6:15 this morning. President Donald Trump is announcing trade-related developments involving three nations here. The long awaited agreement includes a 15% reciprocal tariff on Japanese goods exported to the United States. That’s America’s fifth largest source of imports. The deal also calls for Tokyo to invest $550 billion into the US. President also said that America will save 90%. Of the profits but didn’t say how those investments would work or how the profits would be calculated. Also Tuesday, the president said that he and President Fernande Marcos Jr. of the Philippines reached a trade agreement, and he revealed more detailed terms of a deal with Indonesia. Both agreements call for a 19% tariff on goods imported to the US from both of those countries with no tariff on American goods shipped to those countries. But I just signed the largest trade deal in history. I think maybe the largest deal in history with Japan. Meanwhile, an August 1st deadline for a US-Canada trade deal is fast approaching, and it is not yet clear what that agreement will be or if it will be finished by the deadline.

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

“This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States “will continue to always have a great relationship with the Country of Japan.”

The president said Japan would invest “at my direction” $550 billion into the U.S. and would “open” its economy to American autos and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1.