Trump announces ‘massive' trade agreement with Japan that includes 15% tariff: ‘To create Hundreds of Thousands of Jobs'
The deal would include $550 billion of Japanese investments in the United States, Trump said in a post on Truth Social, and added that Japan would increase market access to American producers of cars, trucks, rice and certain agricultural products, among other items.
The US President, however, made no mention of easing tariffs on Japanese automobiles, which account for more than a quarter of all the country's exports to the United States and are subject to a 25% tariff.
"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," Trump said.
'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!'
Trump's announcement follows a meeting with Japan's top tariff negotiator, Ryosei Akazawa, at the White House on Tuesday, according to a person familiar with the matter.
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