Shafaq News – Washington
The United States and Japan have reached anagreement to reduce tariffs on Japanese exports, scaling back a steeperincrease previously threatened by President Donald Trump.
Under the deal, tariffs on Japanese goods enteringthe US will be set at 15%, a cut from the originally proposed 25%. Japanesevehicles—accounting for more than a quarter of Japan’s exports to the US—willalso benefit from the revised rate, with existing tariffs lowered from 25% to15%.
Trump, posting on Truth Social, described the agreementas “the biggest trade deal in history with Japan,” highlighting its role inmaintaining strong bilateral ties.
In turn, Japanese Prime Minister Shigeru Ishiba,under increased pressure following a major electoral defeat on Sunday, welcomedthe outcome, characterizing the revised tariff rate as the lowest amongtrade-surplus nations dealing with the US.
The announcement triggered a rally in Japanesemarkets. The Nikkei index climbed to a one-year high, while government bondprices slipped. US media outlets also highlighted the deal, calling it “themost significant” among several trade arrangements concluded by the White Houseahead of the August 1 deadline for wider tariff actions.
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