US, Japan agree trade deal, lowering threatened Trump tariff to 15%
KEN MORIYASU and RYOHTAROH SATOH
WASHINGTON/TOKYO -- The U.S. and Japan have agreed a trade deal that would bring down proposed "reciprocal" and auto tariffs from 25% to 15%, culminating months of negotiations ahead of an Aug. 1 deadline.
Writing on Truth Social Tuesday night, President Donald Trump said, "We just completed a massive Deal with Japan, perhaps the largest Deal ever made."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
11 minutes ago
Toyota Lowers Full-Year Profit Forecasts Due to Trump Tariffs
News from Japan Economy Aug 7, 2025 15:44 (JST) Tokyo, Aug. 7 (Jiji Press)--Toyota Motor Corp. on Thursday downgraded its full-year profit forecasts, reflecting U.S. President Donald Trump's tariffs. For the year through next March, Toyota projected a consolidated net profit of 2,660 billion yen, down from the previously forecast 3,100 billion yen. Its annual net profit is now expected to shrink for the second straight year. The operating profit forecast was lowered to 3,200 billion yen from 3,800 billion yen, as Trump's tariffs are estimated to have a negative impact of 1.4 trillion yen. Meanwhile, Toyota kept its sales estimate unchanged at 48.5 trillion yen. The leading Japanese automaker also maintained its assumed exchange rates of 145 yen to the dollar and 160 yen to the euro, as well as its global vehicle sales projection at 11.2 million units, including those at subsidiaries Daihatsu Motor Co. and Hino Motors Ltd. [Copyright The Jiji Press, Ltd.] Jiji Press
Asahi Shimbun
an hour ago
- Asahi Shimbun
Sony raises its profit forecast after saying it expects less damage from Trump's tariffs
A logo of Sony is seen at the headquarters of Sony Corp. on May 10, 2022, in Tokyo. (AP Photo) Japanese entertainment and electronics company Sony said Thursday that its profit surged 23% in the last quarter from the year before, as damage from U.S. President Donald Trump's tariffs was less than it had expected. The Tokyo-based manufacturer reported its April-June profit totaled 259 billion yen, or $1.8 billion, up from 210 billion yen. Quarterly sales edged up 2% to 2.6 trillion yen ($17.7 billion) as demand grew for games and network services, imaging solutions and sensors. The maker of PlayStation game machines, digital cameras, Walkman audio players and Spider-Man movies said those positive factors offset the negative impact from unfavorable exchanges rates. Sony said its network business also was drawing more subscribers to its online services. Sony raised its forecast for its profit in the full fiscal year until March 2026 to 970 billion yen ($6.6 billion), from an earlier forecast of 930 billion yen ($6.3 billion). The revised projection is still lower than what it earned in the previous fiscal year at 1 trillion yen. Sony now estimates the impact of the additional U.S. tariffs on its operating income at 70 billion yen ($476 million), much better than the initial estimate of 100 billion yen ($680 million). One of the successes among Sony's entertainment franchises was the latest 'Demon Slayer' animation movie, which is part of a hit series and is doing well at the box office.
Nikkei Asia
an hour ago
- Nikkei Asia
Apple suppliers bet on tariff carve-out for India-made iPhones: sources
The iPhone 16 lineup is displayed at an Apple store in Mumbai: Apple has invested heavily to set up a supply chain for its devices in India as an alternative to manufacturing in China. © AP LAULY LI, CHENG TING-FANG, CISSY ZHOU and YIFAN YU TAIPEI/HONGKONG/PALO ALTO -- Apple suppliers are proceeding with their plans to mass produce the upcoming iPhone in India, as they believe the device will be exempt from the 50% tariff rate that U.S. President Donald Trump has slapped on the country, Nikkei Asia has learned.
