US EditionTrump announces ‘massive’ trade deal with Japan with 15% tariffs
UNITED STATES, JUL 22 – The deal sets a 15% tariff rate to adjust trade relations and enhance U.S. economic interests, marking a significant shift in bilateral trade policies.
- On Tuesday in Washington, U.S. President Donald Trump announced a massive trade deal with Japan setting tariffs at 15 percent on imports.
- The deal followed months of escalating tariff threats, including a planned 25 percent tariff starting August 1, pressuring Japan into negotiations.
- The agreement lowers tariff rates and expands market access for American vehicles, rice, and select farm goods, while Japan agreed to a reciprocal 15 percent tariff.
- Trump announced that, as part of the agreement, Japan would direct $550 billion in investments to the United States, a move he predicted would generate hundreds of thousands of new jobs.
- Japanese officials have not formally verified the agreement, and the White House has not provided any official documents at this time.
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The US and Japan agree on a trade agreement. Although this provides for high tariffs, US President Donald Trump has threatened much higher tariffs. May Europe hope for a similar deal?
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The deal in the US-Japan customs dispute could serve as a blueprint for an agreement between the US and Europe, says economist Edgar Walk in conversation with Dietmar Deffner: "If the EU makes a deal, it will probably also have to reckon with 15 percent basic tariffs," says Walk.
Trump Announces New Trade Deal with Japan
President Donald Trump announces a new trade deal with Japan that sets a 15% import tax on goods from their country. Trump says it will also involve Japan making more than a half-trillion-dollar investment in the United States. NBC’s Garrett Haake reports for TODAY from the White House.
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