President Trump announces 15% reciprocal tariffs on Japanese imports; Prime Minister Ishiba responds, ‘Details must be reviewed carefully
In the past, Trump had warned Japan about imposing the 25 percent US-Japan tariffs 2025 on the 1st of August if negotiations fail. "We have just concluded a huge Deal with Japan, perhaps the biggest Deal ever signed," Trump posted on his Truth Social platform.
According to the statement of the president the agreement states it is "Japan commits, under My direction, 550 billion dollars in the United States, which will take 90percent of profits.
"Without explaining the nebulous investment plan, he claimed that the agreement "will result in the creation of hundreds of thousands of jobs." "Perhaps the most important thing is that Japan will open their country to trade including cars and trucks as well as rice and other agricultural products, among other items. A 15% tax will be applied to Japanese exports that are to America. U.S. as part of the reciprocal tariffs on Japanese goods," he stated.
Shortly after it was announced, Japan's prime minister responded by saying the country "needs to study the specifics of the US-Japan trade relations".
"As to what we should consider the results of the talks I'm not in a position to comment until we thoroughly review the details of the talks and the agreement," PM Ishiba trade response in Tokyo according to AFP. "As our government we believe (the agreement) will be in the best interest of our nation," he added.
Trump's trade announcement is scheduled to take place in conjunction with Japanese Prime Minister Shigeru Ishiba's tense weekend elections, in which his coalition was defeated within the top house. Trump has been under pressure from the public to sign Japan trade policy 2025 prior to the deadline of August 1 for Trump 15% tariffs and has promised a variety of agreements.
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