US President Donald Trump announced on reaching a “large-scale” trade agreement with Japan, which provides for reciprocal tariffs of 15%.
“We’ve just made a massive deal with Japan, possibly the biggest deal ever made. Japan will open up its country to trade, including cars and trucks, rice and some other agricultural products, and other goods. Japan will pay 15% reciprocal tariffs to the US,”– Trump said.
According to him, Japan plans to invest 550 billion dollars in the American economy, with the United States receiving 90% of the profit. Also, as Trump noted, within the framework of this agreement, Japan will pay 15% of mutual tariffs.
At the same time, Prime Minister of Japan Shigeru Ishiba announced that his country will reduce customs duties on cars to 15% and will not introduce any import quotas.
“Adhering to the principle of “priority of investment over tariffs,” Japan and the United States have reached an agreement that will be beneficial to both sides. Tariffs on automobiles and reciprocal tariffs will be 15%. I sincerely thank Donald Trump for his outstanding leadership. I am grateful to Minister Akazawa and all participants on both sides for their selfless efforts. Together with the president, we will build a new golden era for Japan and the United States.” Isiba explained.
According to him, the concluded agreement includes Japanese investments in American sectors related to national security, in particular in the field of semiconductors, steel, shipbuilding, aviation, energy and artificial intelligence. He also announced the creation of a joint venture between the United States and Japan for the production of liquefied natural gas in Alaska.
