Japanese exports to face 15% tariff after trade deal reached

Japanese exports to face 15% tariff after trade deal reached

Overnight, with less than 2 weeks before the White House’s August 1st deadline for tariffs to take effect, President Trump announcing what he says is a massive trade deal with Japan, America’s 5th largest trading partner. I just signed the largest trade deal in history, I think maybe the largest deal. The president posting on social media that Japanese exports to the US will now face a 15% tariff, down from the 25% he previously threatened if Japan didn’t make a deal with the US. That new 15% tariff extending to Japanese autos, putting them at a Advantage to other carmakers who still face Trump’s steeper 25% tariffs. In exchange, Japan agreeing to allow American automakers to sell their cars and trucks in Japan and opening up the country to imports of US grown rice and other agricultural products. The president also announcing that Japan will make $550 billion in investments in the US, but he didn’t provide details. Last year the US bought nearly $150 billion worth of Japanese goods, more than one third of those cars and car parts.

This is down from the 25% tariff President Donald Trump previously threatened.
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#tariff #usa #japan #donaldtrump #economy