US-Japan Strike 'Massive' Trade Pact As Trump Cuts Tariffs To 15%
US President Donald Trump has announced a major breakthrough in trade negotiations with Japan, revealing that his administration will impose 15 per cent reciprocal tariffs on Japanese goods—10 percentage points lower than the 25 percent initially proposed. The announcement, made via a post on his social media platform Truth Social, comes as multiple nations scramble to secure favorable trade terms with Washington ahead of the looming August 1 tariff deadline. “Japan will pay Reciprocal Tariffs to the United States of 15 per cent,” Trump wrote, according to Yonhap news agency. “Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things.” Trade Deal Framed As Historic Calling the agreement with Tokyo “perhaps the largest” ever struck, Trump claimed that Japan has pledged a substantial investment of $550 billion into the U.S. economy. He added that the United States would receive 90 percent of the profits from the deal, though further details on the investment plan were not provided. “This Deal will create Hundreds of Thousands of Jobs -- There has never been anything like it,” the US President said. The agreement comes after protracted negotiations, with reports indicating that Japan had limited room to maneuver ahead of its recent parliamentary elections. Just last week, Trump had suggested he might proceed with a full 25 percent tariff on Japanese imports, hinting at the challenges both sides faced in reaching consensus. Also Read: Gold Rate Today (July 23): Check Out Gold Prices In Delhi, Mumbai, Bengaluru, Ahmedabad, More Cities Other Countries Seek Concessions Trump’s announcement also comes amid ongoing trade discussions with other nations. South Korea, in particular, is working to avoid steep US tariffs on key exports such as steel, aluminum, and automobiles. Seoul is hoping to secure exemptions or reductions to protect its export-dependent economy from potential fallout. In a related development, Trump also revealed a trade agreement with the Philippines earlier in the day. According to his statement, the Southeast Asian nation will now face a 19 per cent tariff—one percentage point lower than the previously proposed rate. With the US administration set to implement wide-ranging tariffs beginning August 1 unless trade agreements are finalized, pressure is mounting on Washington’s partners to reach terms.
US President Donald Trump has announced a major breakthrough in trade negotiations with Japan, revealing that his administration will impose 15 per cent reciprocal tariffs on Japanese goods—10 percentage points lower than the 25 percent initially proposed. The announcement, made via a post on his social media platform Truth Social, comes as multiple nations scramble to secure favorable trade terms with Washington ahead of the looming August 1 tariff deadline.
“Japan will pay Reciprocal Tariffs to the United States of 15 per cent,” Trump wrote, according to Yonhap news agency. “Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things.”
Trade Deal Framed As Historic
Calling the agreement with Tokyo “perhaps the largest” ever struck, Trump claimed that Japan has pledged a substantial investment of $550 billion into the U.S. economy. He added that the United States would receive 90 percent of the profits from the deal, though further details on the investment plan were not provided.
“This Deal will create Hundreds of Thousands of Jobs -- There has never been anything like it,” the US President said.
The agreement comes after protracted negotiations, with reports indicating that Japan had limited room to maneuver ahead of its recent parliamentary elections. Just last week, Trump had suggested he might proceed with a full 25 percent tariff on Japanese imports, hinting at the challenges both sides faced in reaching consensus.
Also Read: Gold Rate Today (July 23): Check Out Gold Prices In Delhi, Mumbai, Bengaluru, Ahmedabad, More Cities
Other Countries Seek Concessions
Trump’s announcement also comes amid ongoing trade discussions with other nations. South Korea, in particular, is working to avoid steep US tariffs on key exports such as steel, aluminum, and automobiles. Seoul is hoping to secure exemptions or reductions to protect its export-dependent economy from potential fallout.
In a related development, Trump also revealed a trade agreement with the Philippines earlier in the day. According to his statement, the Southeast Asian nation will now face a 19 per cent tariff—one percentage point lower than the previously proposed rate.
With the US administration set to implement wide-ranging tariffs beginning August 1 unless trade agreements are finalized, pressure is mounting on Washington’s partners to reach terms.
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