President Donald Trump said Tuesday on Truth Social That its administration had concluded an agreement with Japan, one of the largest American trade partners, to reduce its rate rate to 15% as part of a trade agreement.
This rate is lower than 24% that Trump threatened Japan April 2 And The 25% he said He would reach Japanese imports in a letter on July 7. Before the current term of Trump, the actual American rate rate on Japanese imports was less than 2%, according to data from the World Bank.
The Japanese Ministry of Foreign Affairs did not immediately respond to a request for comments on the details of the agreement.
August 1 is the last deadline that Trump imposed on countries to conclude agreements to avoid the rate rates that Trump himself had set in dozens of letters that he pulled on social networks. Even if this deadline had been delayed before, the Treasury Secretary Scott Bessent said on Tuesday on Fox Business Network that it was a “fairly difficult deadline”.
Since the so-called Liberation day of Trump on April 2, the administration has not yet concluded official commercial transactions, by signing rather a handful of framework agreements which can be transformed into full-fledged chords later.
Japan has furiously tried to avoid as many global Trump prices as possible. The main trade in Japan trade visited the United States at least eight times, more recently on Monday, when he met the secretary of trade Howard Lunick for more than two hours.
As part of the agreement, Trump said Japan “would invest $ 550 billion in the United States in my direction, which will receive 90% of profits.” We did not know how such an investment would work.
Trump praised the announcement during an event with the Congress Republicans later on Tuesday on Tuesday, saying that the prices “kicked off better than anyone than me and that some of the people in the room thought could occur.”
He added that Japan would form a joint venture with the United States linked to liquefied natural gas in Alaska.
Japan was the fifth greatest source of American imports last year, consumers and American companies buying nearly $ 150 billion in the country, according to data from the Commerce Department.
Japan talks have occurred at a difficult period politically for the Japanese government. Prime Minister Shigeru Ishiba recently lost the two chambers of Parliament. Ishiba promised to stay on As a leader, partly to combat the wind contrary winds.
Trump had recently minimized the chances of an agreement with Japan.
“The Japanese are hard, but in the end, you must understand that we will simply send a letter saying:” This is what you will pay, otherwise you don’t have to do business with us. “But there is a chance,” he said on June 16.
In May, Trump approved a long -late takeover of American steel by Japanese Steel in Japan. As part of the agreement, Japanese has agreed to create at least 70,000 jobs thanks to an investment of $ 14 billion, according to companies and the White House. The companies then increased this to 100,000 jobs, but said that the additions included “direct, indirect and induced jobs”.
Zoë Richards contributed.
