Trump says deal struck with Japan, tariffs to be set at 15%
WASHINGTON (DPA)US President Donald Trump on Tuesday said that a trade agreement deal was reached with Tokyo, which will see Japan "pay Reciprocal Tariffs" of 15% on goods exported to the United States."We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump said in a post on his Truth Social platform. Trump said that Japan agreed to invest $550 billion into the US, "which will receive 90% of the Profits."He did not provide details on how the arrangement would work."This Deal will create Hundreds of Thousands of Jobs - There has never been anything like it," the post continued."Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things."Japan was facing 25% tariffs on exports to the US from August 1, had a deal not been struck, as per a letter sent by Trump to Japanese Prime Minister Shigeru Ishiba on July 7.
The figure was one percentage point higher than the one Trump had announced in early April before enacting a 90-day pause.
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