Latest news with #JapanUS
Forbes
08-08-2025
- Business
- Forbes
Japan Says U.S. Will Correct Error In Trump's Tariff Order And Give Refunds
The Trump administration has agreed to revise a presidential order on tariffs against Japan to correct an 'extremely regrettable' error and eliminate the stacking of multiple tariffs on Japanese goods, Japan's top trade negotiator said, ending confusion caused by varied interpretations on both sides of the trade deal between Japan and the U.S. U.S. Treasury Secretary Scott Bessent and Japan's Minister in charge of Economic Revitalization Ryosei Akazawa. Getty Images After a meeting with U.S. officials, Japan's top trade negotiator told reporters at the Japanese embassy in Washington that the reciprocal tariff of 15% on Japanese imports will not stack on top of previously announced levies. This is similar to the arrangement that the U.S. agreed with the European Union, as outlined in President Donald Trump's July 31 executive order, but no such carve-out was mentioned for Japan. The correction means that for items like fabrics, which faced an earlier tariff rate of 7.5%, the levy will rise to 15% instead of stacking up to 22.5% (15+7.5). For other Japanese goods which already faced a tariff rate above 15%—like beef at 26.4%—the levy will remain the same and not see an additional 15% stacked on top. Akazawa said the U.S. has also agreed to refund any excess tariff collected due to the 'extremely regrettable' error in the administrative process. The trade officials also said the White House will issue a new presidential order outlining a previously agreed-upon deal to lower tariffs on Japanese autos and auto parts to 15% from 27.5%. Trump had agreed to reduce the tariffs he previously imposed on Japanese cars in exchange for a $550 billion investment commitment from Japan. How Have The Markets Reacted? Japan's benchmark Nikkei 225 index rose 1.85% to 41,820.48 points on Friday. Top Japanese automakers saw even bigger jumps as Toyota's shares surged 3.47% to $18.77 (JPY 2,773). Honda and Subaru shares rose 3.95% and 5.37% respectively. Japan says U.S. to fix Trump tariff order, refund overpayments (Kyodo News) Japan Says Trump to Correct 'Extremely Regrettable' Error in Tariff Order (New York Times)
Yahoo
01-08-2025
- Business
- Yahoo
Japan's factory activity slips back into decline in July, PMI shows
TOKYO (Reuters) -Japan's manufacturing activity shrank in July after briefly stabilising in the previous month as weak demand pulled production back into contraction, a private sector survey showed on Friday. The S&P Global Japan manufacturing purchasing managers' index (PMI) fell to 48.9 in July from 50.1 in June, dropping below the 50.0 threshold that separates growth from contraction. The PMI was little changed from the flash reading of 48.8. Most of the survey data was collected before the announcement of a Japan-U.S. trade agreement last week, which lowers tariffs imposed on Japan to 15% from a previously threatened 25%. As the trade deal with Washington kicks in, "it will be important to see if this will translate into greater client confidence and improved sales in the months ahead," said Annabel Fiddes, economics associate director at S&P Global Market Intelligence, which compiles the survey. The key sub-index of output fell back into contraction and at the sharpest pace since March. Companies widely reported reducing production due to lower volumes of new business, according to the survey. New orders shrank again in July, though at a slightly slower pace than in June. Despite falling production and orders, manufacturers continued to increase staffing in July, though the pace of job creation slowed to a three-month low. On the price front, input cost inflation eased to its lowest in four-and-a-half years, while output prices rose at the fastest rate in a year as firms passed on higher costs to customers. Business confidence improved to a six-month high in July, with firms expecting improved demand conditions and reduced trade-related uncertainty to support growth over the next year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
01-08-2025
- Business
- Reuters
Japan's factory activity slips back into decline in July, PMI shows
TOKYO, Aug 1 (Reuters) - Japan's manufacturing activity shrank in July after briefly stabilising in the previous month as weak demand pulled production back into contraction, a private sector survey showed on Friday. The S&P Global Japan manufacturing purchasing managers' index (PMI) fell to 48.9 in July from 50.1 in June, dropping below the 50.0 threshold that separates growth from contraction. The PMI was little changed from the flash reading of 48.8. Most of the survey data was collected before the announcement of a Japan-U.S. trade agreement last week, which lowers tariffs imposed on Japan to 15% from a previously threatened 25%. As the trade deal with Washington kicks in, "it will be important to see if this will translate into greater client confidence and improved sales in the months ahead," said Annabel Fiddes, economics associate director at S&P Global Market Intelligence, which compiles the survey. The key sub-index of output fell back into contraction and at the sharpest pace since March. Companies widely reported reducing production due to lower volumes of new business, according to the survey. New orders shrank again in July, though at a slightly slower pace than in June. Despite falling production and orders, manufacturers continued to increase staffing in July, though the pace of job creation slowed to a three-month low. On the price front, input cost inflation eased to its lowest in four-and-a-half years, while output prices rose at the fastest rate in a year as firms passed on higher costs to customers. Business confidence improved to a six-month high in July, with firms expecting improved demand conditions and reduced trade-related uncertainty to support growth over the next year.
Yahoo
01-08-2025
- Business
- Yahoo
Japan's factory activity slips back into decline in July, PMI shows
TOKYO (Reuters) -Japan's manufacturing activity shrank in July after briefly stabilising in the previous month as weak demand pulled production back into contraction, a private sector survey showed on Friday. The S&P Global Japan manufacturing purchasing managers' index (PMI) fell to 48.9 in July from 50.1 in June, dropping below the 50.0 threshold that separates growth from contraction. The PMI was little changed from the flash reading of 48.8. Most of the survey data was collected before the announcement of a Japan-U.S. trade agreement last week, which lowers tariffs imposed on Japan to 15% from a previously threatened 25%. As the trade deal with Washington kicks in, "it will be important to see if this will translate into greater client confidence and improved sales in the months ahead," said Annabel Fiddes, economics associate director at S&P Global Market Intelligence, which compiles the survey. The key sub-index of output fell back into contraction and at the sharpest pace since March. Companies widely reported reducing production due to lower volumes of new business, according to the survey. New orders shrank again in July, though at a slightly slower pace than in June. Despite falling production and orders, manufacturers continued to increase staffing in July, though the pace of job creation slowed to a three-month low. On the price front, input cost inflation eased to its lowest in four-and-a-half years, while output prices rose at the fastest rate in a year as firms passed on higher costs to customers. Business confidence improved to a six-month high in July, with firms expecting improved demand conditions and reduced trade-related uncertainty to support growth over the next year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
NHK
14-07-2025
- Automotive
- NHK
Trump reiterates frustration over auto trade with Japan
US President Donald Trump has reiterated that he believes Japan isn't doing enough to open its markets to US exports, in particular in the auto industry. Trump was speaking to reporters at an Air Force base outside Washington on Sunday about tariff negotiations with Japan and other countries and regions. He said that while the European Union wants to open up its markets, Japan has done so "to a much lesser extent, in terms of opening up their country." Trump repeated his claim that Japan sells the US "millions and millions" of cars a year and that Japan won't accept US autos or much agricultural products. He went on to say that Japan and other US trading partners are "all changing their ways very, very rapidly." The US president offered no details about what he meant by "changing their ways." Trump announced on July 7 that he will impose a 25 percent tariff on imports from Japan starting on August 1. Attention is focusing on Japan-US tariff negotiations and whether they can narrow disagreements between the two countries.
