President Donald Trump announced a long-awaited trade agreement with Japan on Tuesday night. Under the agreement, U.S. importers will pay a 15% “reciprocal” tariff on Japanese goods entering the country. Crucially for Japan, this 15% rate will apply to automobiles and auto parts as well—giving it a competitive edge over other major car-exporting nations that have been subject to a 25% tariff on automotive exports since April.
Additionally, Japan will invest $550 billion in the United States, according to Trump, who stated that the U.S. would receive 90% of the resulting profits.
The President also putting out a statement Via Truth Social it reads: “We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things. Japan will pay Reciprocal Tariffs to the United States of 15%. This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!”
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