Trump: Japan deal reached with tariff rate set at 15%
Donald Trump
said he reached a trade deal with Japan that will set tariffs on Japanese imports at 15% and see the key American ally invest $550 billion into the US.
"I just signed the largest trade deal in history - I think maybe the largest deal in history - with Japan," Trump said at an event at the White House on Tuesday after announcing the deal on social media. "And that was done with Japan. They had their top people here and we worked on it long and hard and it's a great deal for everybody."
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Data Science
CXO
MCA
Management
Leadership
MBA
Project Management
Operations Management
Data Analytics
Digital Marketing
Product Management
PGDM
Cybersecurity
healthcare
Data Science
Finance
others
Others
Public Policy
Design Thinking
Degree
Technology
Artificial Intelligence
Healthcare
Skills you'll gain:
Duration:
10 Months
IIM Kozhikode
CERT-IIMK DABS India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
10 Months
E&ICT Academy, Indian Institute of Technology Guwahati
CERT-IITG Prof Cert in DS & BA with GenAI India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
30 Weeks
IIM Kozhikode
SEPO - IIMK-AI for Senior Executives India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
11 Months
IIT Madras
CERT-IITM Advanced Cert Prog in AI and ML India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
11 Months
E&ICT Academy, Indian Institute of Technology Guwahati
CERT-IITG Postgraduate Cert in AI and ML India
Starts on
undefined
Get Details
Trump said on Truth Social that the pact calls for Japan to "open their country" to US automobile imports, as well as additional agricultural imports including rice, without specifying further details. Trump has repeatedly zeroed in on auto trade as he criticizes trade imbalances with the country. Around 80% of Japan's trade surplus with the US is in cars and auto parts.
Additional details of the preliminary agreement with Japan - including, critically, if
Japanese automobiles
and parts would receive a carve-out from separate 25% tariffs - were not immediately available.
Japan's public broadcaster NHK said Washington would also lower the rate on the auto sector to 15%, citing an unidentified government official. Shares in Japanese carmakers jumped in Tokyo, with
Toyota Motor Corp
. rising more than 11%.
Live Events
"Japan and the US have been conducting close negotiations with our national interests on the line," Japanese Prime Minister Shigeru Ishiba said in Tokyo. "The two nations will continue to work together to create jobs and good products."
Trump has previously announced trade frameworks without many specifics only for the White House to provide details days and weeks later, as terms are hammered out.
Trump indicated at the event with Republican lawmakers at the White House that he also expects to sign a deal on a joint venture with Japan to export liquefied natural gas from Alaska. White House spokespeople did not immediately respond to requests for more information.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
4 minutes ago
- Time of India
Trump, EU's Von Der Leyen cite conflicting details on trade deal
President Trump and European Commission President Von der Leyen's new trade agreement reveals discrepancies in key details, highlighting the challenges in its implementation. The EU agreed to a 15% tariff on most exports to the US, but disagreements persist regarding pharmaceuticals, steel, and aluminum. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads President Donald Trump and European Commission President Ursula von der Leyen appear to differ on some key details in their new trade agreement, underscoring the difficulty they may have in turning this deal into a European Union said it would accept a 15% tariff on nearly all its exports to the US. Trump told reporters that the bloc also agreed to open up its 'countries to trade at zero tariff.'After he met with von der Leyen Sunday, Trump said that the deal would not include pharmaceuticals, a contentious point in the negotiations, seeming to imply they would be subject to a higher a separate news conference, von der Leyen said, 'The EU agreed we have 15% for pharmaceuticals.' But she added, 'Whatever decisions later – by the president of the US – that's on a different sheet of paper.'Senior US officials later said that the two sides agreed on a 15% tariff level for the EU's pharmaceutical exports. A separate Section 232 probe on pharmaceuticals is still coming over the next three weeks, but the EU tariff level will remain at 15%, the officials US has initiated investigations into whether the import of certain products, such as aerospace and semiconductors, poses a national security threat to the country. This could lead to separate tariffs on some accords typically require years of negotiations and can run thousands of pages long. Talks on the preliminary agreement clinched on Sunday began in April and concrete details appear EU and US also diverged on another controversial sector, with Trump saying that the 50% tariff on steel and aluminum 'stays the way it is.' Von der Leyen said that metal 'tariffs will be cut and a quota system will be put in place.'The deal doesn't cover the EU's steel and aluminum exports, which will remain subject to 50% tariffs, according to senior US officials. Aerospace tariffs, meanwhile, will remain at 0% pending the outcome of a Section 232 probe, the officials der Leyen argued that she won certainty and stability for companies on both sides of the Atlantic. But it's far from clear that the EU and US will be able to iron out all their differences on the many contentious issues yet to deal with.'The focus will now turn to interpretation and implementation risk, posing a mix of political and technical questions,' Carsten Nickel, deputy director of research at Teneo, wrote in a note. 'Given the nature of the deal, major uncertainties are likely to persist.'
&w=3840&q=100)
First Post
4 minutes ago
- First Post
Kim Jong-Un's sister rejects new South Korean president's outreach to North Korea
Kim Yo-Jong, the powerful sister of North Korean leader Kim Jong-Un, has rejected the outreach of new South Korean President Lee Jae Myung. She said that North Korea has 'no interest' in engaging with South Korea as it continues to be blindly part of American hostilities against her nation. read more The influential sister of North Korean leader Kim Jong Un rebuffed overtures by South Korea's new liberal government, saying Monday that its 'blind trust' in the country's alliance with the US and hostility toward North Korea make it no different from its conservative predecessor. Kim Yo Jong's comments imply that North Korea —now preoccupied with its expanding cooperation with Russia— sees no need to resume diplomacy with South Korea and the US anytime soon. Experts say she likely hopes to drive a wedge between Seoul and Washington. STORY CONTINUES BELOW THIS AD 'We clarify once again the official stand that no matter what policy is adopted and whatever proposal is made in Seoul, we have no interest in it and there is neither a reason to meet nor an issue to be discussed,' Kim Yo Jong said in a statement carried by state media. It's North Korea's first official statement on the government of South Korean President Lee Jae Myung, which took office in early June with a promise to improve badly frayed ties with North Korea. Lee's government has halted anti-Pyongyang frontline loudspeaker broadcasts, taken steps to ban activists from flying balloons with propaganda leaflets across the border and repatriated North Koreans who were drifted south in wooden boats months earlier. North Korea complains of South Korea-US military drills North Korea has shunned talks with South Korea and the US since leader Kim Jong Un's high-stakes nuclear diplomacy with President Donald Trump fell apart in 2019 due to wrangling over international sanctions. North Korea has since focused on building more powerful nuclear weapons targeting its rivals and declared a hostile 'two-state' system on the Korean Peninsula to terminate relations with South Korea. Kim Yo Jong called Lee's steps 'sincere efforts' to develop ties, but said the new government still 'stands in confrontation' with North Korea. She mentioned the upcoming summertime South Korea-US military drills, which North Korea views as an invasion rehearsal. South Korea's Unification Ministry responded that it will steadfastly seek reconciliation with North Korea to realize peaceful co-existence. Spokesperson Koo Byoungsam told reporters that the statement shows North Korea closely monitors the Lee government's North Korea policy despite deep mistrust. Moon Seong Mook, an analyst for the Seoul-based Korea Research Institute for National Strategy, said Kim Yo Jong's statement shows North Korea is holding out for South Korea to abandon the US alliance. STORY CONTINUES BELOW THIS AD Moon said that Kim likely sees little upside in engaging with the South since it cannot restart economic projects that previously benefited the North as long as international sanctions remain in place. North Korea focuses on Russian ties North Korea built cooperation with Russia, sending troops and conventional weapons to support its war in Ukraine, and likely receiving economic and technological assistance in return. Since beginning his second term in January, Trump has repeatedly boasted of his personal ties with Kim Jong Un and expressed intent to resume diplomacy with him. But North Korea hasn't publicly responded to Trump's overture. Leif-Eric Easley, professor of international studies at Ewha Womans University in Seoul, said that Kim Yo Jong's statement had a domestic audience. 'Kim Yo Jong's comments are an effort to advance national pride by portraying North Korea in a superior position, despite its economic struggles and international pariah status,' Easley said. 'She also seeks to justify Pyongyang's weapons programs and divide Seoul and Washington by criticizing upcoming military exercises.' Still, there is a limit on what North Korea can get from Russia, and Pyongyang could change course at a major upcoming meeting of the ruling Workers' Party, likely to be held in January, said Kwak Gil Sup, the head of One Korea Center, a website specializing in North Korea affairs. STORY CONTINUES BELOW THIS AD 'I think North Korea may formulate a Plan B and Plan C in relations for South Korea and the US,' Kwak said. (This is an agency copy. Except for the headline, the copy has not been edited by Firstpost staff.)
Time of India
4 minutes ago
- Time of India
NASA plans a 21% workforce reduction
Advt By , Agencies NASA is set to reduce its civil servant workforce by approximately 21%, with around 3,780 employees opting into two voluntary resignation schemes, the agency confirmed this week. The programs are part of NASA's efforts to streamline operations while maintaining its capability to drive upcoming space exploration initiatives, including Moon and Mars Cheryl Warner stated the move aims to strike a balance between efficiency and readiness for what NASA calls a ' Golden Era of exploration and innovation.' The agency anticipates retaining around 14,000 employees after accounting for the resignations and an additional 500 departures through routine voluntary exit programs offer financial incentives or concessions to encourage staff to resign. The agency stressed that while the forecasted figures are approximate, further changes in headcount may occur depending on future operational significant workforce reduction follows broader federal downsizing efforts under the administration of US President Donald Trump. Elon Musk, previously head of the Department of Government Efficiency (DOGE), had been involved in driving such agency-level workforce reduction signals a shift in how NASA plans to staff future missions, leaning on a smaller core team while likely expanding collaboration with private aerospace contractors and commercial partners. This approach reflects changing workforce dynamics within the federal science and technology sector.
