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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In an emergency order, the Supreme Court considers which side is ultimately likely to succeed on the underlying legal questions, but the justices also focus on the harm each side might suffer in the interim. Tension on the Supreme Court over the escalating shadow docket activity predates Trump's latest term in office. Justice Elena Kagan wrote in 2021 that the conservative majority's use of the process resulted in decisions that were becoming 'more unreasoned, inconsistent, and impossible to defend.' Justice Samuel Alito accused critics of portraying the process as something 'sinister' in order to 'intimidate the court or damage it as an independent institution.' In remarks to a federal judges' conference on Thursday, Kagan underscored her concerns about the challenges that emergency orders create for lower courts. The justices 'don't usually meet about shadow docket matters and discuss them in the way we do with merits cases,' she said. 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With agencies carrying out layoffs following the Supreme Court's order, she wrote, 'the issues in this case remain of significant public importance.' The Justice Department raced to a federal appeals court, which this week temporarily paused Illston's latest order while it decides what to do. Should the government lose the latest round, it could bring the case back to the justices. With assistance from Suzanne Monyak and Greg Stohr. This article was generated from an automated news agency feed without modifications to text.
