(Update) Trump Announces Trade Deal with Japan Involving 15 Pct Levy
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.
According to Japanese government officials, the U.S. administration agreed to a 15 pct tariff on automobiles imported from Japan.
"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.
Washington was set to impose a 25 pct levy on Japan on Aug. 1 if it could not reach a deal with Tokyo. The two sides reached an agreement some three months after the start of negotiations, partly thanks to Tokyo's decision to allow larger imports of rice, which had previously been considered off-limits.
(2025/07/23-10:00)
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