Latest news with #Ltd
4 hours ago
- Business
Japan, U.S. Strike Trade Deal with Tariff Rate at 15 Pct
News from Japan Economy Jul 23, 2025 15:18 (JST) Tokyo, July 23 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba said Wednesday that his country and the United States have concluded a trade agreement setting the rate of the United States' so-called reciprocal tariff on imports of Japanese goods at 15 pct. The U.S. levy on automobile imports from Japan will be set at 15 pct, down from the 27.5 pct tariff currently in effect. Japan will expand imports of rice and other products from the United States, and will also provide up to 550 billion dollars, or about 80 trillion yen, in assistance to Japanese companies investing in the United States. Washington notified Tokyo on July 7 that it would impose a 25 pct reciprocal tariff on Japan on Aug. 1 if it could not reach a deal by then. Although the new tariff rate is lower than this, it is higher than the 10 pct basic rate currently imposed on the Asian country. Still, Ishiba told reporters at the prime minister's office in Tokyo that the new reciprocal tariff rate is "the lowest among countries with trade surpluses with the United States." [Copyright The Jiji Press, Ltd.] Jiji Press
7 hours ago
- Business
Nikkei Briefly Jumps 1,500 Points on Japan-U.S. Deal
News from Japan Economy Jul 23, 2025 16:53 (JST) Tokyo, July 23 (Jiji Press)--Japan's benchmark Nikkei 225 stock average briefly rose over 1,500 points Wednesday as investors welcomed a tariff agreement between Japan and the United States. The key index climbed 1,396.40 points, or 3.51 pct, from the previous day to close at 41,171.32, the highest finish since July 16, 2024. The Nikkei rose to as high as 41,342.59 in late trading with a gain of some 1,567 points. The broader TOPIX index ended at 2,926.38, up 90.19 points, or 3.18 pct. A wide range of issues were bought from the outset of the day's trading, after U.S. President Donald Trump announced a trade agreement that featured setting so-called reciprocal tariffs on U.S. imports of Japanese goods at 15 pct. The deal took many market players by surprise as it was done earlier than expected and features a lower tariff rate than earlier announced by the Trump administration. An official at a major securities firm said that before the latest announcement, many investors had resigned themselves to seeing the reciprocal tariff at a higher rate that would have kicked in had Washington and Tokyo not struck a deal. [Copyright The Jiji Press, Ltd.] Jiji Press
15 hours ago
- Business
Trump Announces Trade Deal with Japan Involving 15 Pct Tariff
News from Japan Economy Jul 23, 2025 08:49 (JST) Washington, July 22 (Jiji Press)--U.S. President Donald Trump said Tuesday that his country and Japan have concluded a trade agreement setting the reciprocal tariff rate at 15 pct. "We just completed a massive deal with Japan, perhaps the largest deal ever made," Trump posted on his social media platform Truth Social. The president said that Japan will open up its markets to U.S. automobiles and agricultural products including rice. He also said that Japan will invest 550 billion dollars into the United States. END [Copyright The Jiji Press, Ltd.] Jiji Press
a day ago
- Politics
Ishiba Pledges Defense Aid for Papua New Guinea
News from Japan Politics Jul 22, 2025 22:18 (JST) Tokyo, July 22 (Jiji Press)--Japan plans to provide free defense equipment to Papua New Guinea under its official security assistance program, Japanese Prime Minister Shigeru Ishiba told Papua New Guinea's Prime Minister James Marape on Tuesday. "We want to flesh out cooperation," Ishiba said in a meeting with Marape at the prime minister's office in Tokyo. Ishiba also said that Japan aims to closely cooperate with Papua New Guinea to realize a free and open Indo-Pacific. END [Copyright The Jiji Press, Ltd.] Jiji Press
a day ago
Evacuees from Quake-Hit Southwestern Japan Islands to Return
News from Japan Jul 22, 2025 21:50 (JST) Kagoshima, July 22 (Jiji Press)--Evacuees from southwestern Japan islands hit by a series of earthquakes are expected to head home starting as early as Friday night, local officials said Tuesday. There are currently nine evacuees from the Tokara islands off Kagoshima Prefecture, including Akusekijima, according to Toshimamura, a village that includes the islands. Seismic activity near the islands has slowed in recent days, paving the way for the islanders to return, the Toshimamura officials said. The village government is considering providing subsidies for livelihood support to all households on Akusekijima and Kodakarajima, another island in the Tokara chain. There have been over 2,200 earthquakes strong enough to be felt by humans around the Tokara islands since seismic activity intensified on June 21. The biggest was a quake measuring lower 6, the third highest on the Japanese scale, that struck on July 3. [Copyright The Jiji Press, Ltd.] Jiji Press
