'Very Exciting Time': Donald Trump Announces US-Japan Trade Deal With 15% Tariff
Donald Trump has announced a new trade agreement with Japan, saying that Japan will invest $550 billion in the US, and join a joint LNG venture in Alaska.
The United States has struck a trade deal with Japan, Donald Trump announced on Tuesday, placing a 15 per cent tax on goods imported from the nation.
Addressing the media after the trade deal with Japan was finalised, Donald Trump said, 'We concluded the one deal and now we're going to conclude another one because they're forming a joint venture with us in Alaska for the LNG. They're all set to make that deal."
In a post on his social media platform Truth Social, Trump mentioned the deal would include $550 billion of Japanese investments in the United States.
He also said that Japan would increase market access to American producers of cars, trucks, rice and certain agricultural products, among other items.
'We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump wrote on Truth Social.
'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," the US President mentioned.
'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," Trump added.
The 15 per cent tax on imported Japanese goods is a meaningful drop from the 25 per cent rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting August 1.
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