(Update 2) Japan, U.S. Strike Trade Deal with Tariff Rate at 15 Pct
Tokyo, July 23 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba said Wednesday that his country and the United States have concluded a trade agreement setting the rate of the United States' so-called reciprocal tariff on imports of Japanese goods at 15 pct.
The U.S. levy on automobile imports from Japan will be set at 15 pct, down from the 27.5 pct tariff currently in effect.
Japan will expand imports of rice and other products from the United States, and will also provide up to 550 billion dollars, or about 80 trillion yen, in assistance to Japanese companies investing in the United States.
Washington notified Tokyo on July 7 that it would impose a 25 pct reciprocal tariff on Japan on Aug. 1 if it could not reach a deal by then. Although the new tariff rate is lower than this, it is higher than the 10 pct basic rate currently imposed on the Asian country.
Still, Ishiba told reporters at the prime minister's office in Tokyo that the new reciprocal tariff rate is "the lowest among countries with trade surpluses with the United States."
(2025/07/23-15:18)
To read a full story, please click here to find out how to subscribe.
NATIONAL
-
07/25 23:07 LDP Collects Enough Signatures for Crucial Meeting on Ishiba's Fate - 07/25 22:15 (Update) Japan-U.S. Tariff Deal to Carry No Joint Paper: Ishiba
-
07/25 21:59 BOJ Likely to Keep Interest Rates Unchanged - 07/25 20:59 (Update) Japanese Opposition Parties to Submit Bill on Gasoline Tax Cut
- 07/25 20:30 Japan Panel Calls for Consolidating Cancer Care Provision
- 07/25 20:11 Japan Police Take Action against 17 Fentanyl Cases So Far
- 07/25 19:22 S. Korean Plane Apparently Enters Japan's ADIZ without Notice
- 07/25 17:58 Japanese Opposition Parties to Submit Bill on Gasoline Tax Cut
- 07/25 17:46 1,400 Foreigners Identified as Illegal Demae-can Food Deliverers
- 07/25 17:10 Japan Average Life Expectancy Flat in 2024
- 07/25 17:09 Japanese Emperor Meets with Czech President
- 07/25 17:06 Japan Bracing for Pressure to Increase Defense Spending
- 07/25 16:16 Japan Police Set Up Website for Crime Victim Support
- 07/25 16:13 PM Ishiba Orders Steps to Mitigate U.S. Tariffs
- 07/25 16:07 Ishiba Briefs Party Leaders on Japan-U.S. Tariff Deal
- 07/25 15:37 "Junglia Okinawa" Nature Theme Park Opens
- 07/25 14:16 Tokyo Consumer Prices Up 2.9 Pct in July
- 07/25 13:27 Researchers Find Mechanism behind Malignant Pancreatic Cancer
- 07/25 13:04 U.S. Pro Wrestling Legend Hulk Hogan Dies at 71
- 07/25 12:34 National Ballet of Japan Stages 1st Overseas Performance in London
- 07/25 11:27 Tokyo Gov. Koike Seeks to Attract U.N. Functions
- 07/25 09:49 IMF Advises Japan to Avoid Broad Tax Cuts, Handouts
- 07/24 22:10 (Update) Japan Holds 1st Meeting on Nankai Quake Info Guidelines Review
- 07/24 22:05 Ishiba Reiterates Determination to Stay On
- 07/24 21:25 Japan Fighter Jets Scramble 157 Times in April-June
- 07/24 19:44 Japanese, S. Korean Foreign Chiefs Vow to Enhance Ties
- 07/24 19:02 (Update) U.S. Osprey Makes Precautionary Landing at Iwate Airport
- 07/24 18:30 Japan Panel Calls for Expanding Interrogation Recordings
- 07/24 16:45 Purchases of U.S. Defense Equipment Based on Existing Plan: Japan's Hayashi
- 07/24 16:14 Police Detect 889 Threatening Posts Ahead of Upper House Poll
- 07/24 16:09 Prefectural Governors Call for Multicultural Society
- 07/24 14:18 Japan Police to Start Trial Use of Wearable Cameras
- 07/24 13:15 U.S. Osprey Makes Emergency Landing at Iwate Airport
- 07/24 12:53 Nobel C'ttee Head Calls for Passing Down Hibakusha Experiences
- 07/24 11:34 (Update) Japan to Expand Imports of U.S. Rice by 75 Pct
- 07/24 08:58 Japan to Expand Imports of U.S. Rice by 75 Pct
- 07/24 00:50 Trump Says Japan Agrees to Buy Military Equipment
- 07/23 22:25 Japanese Groups Unite for Nuclear Abolition
- 07/23 21:58 (Update) Ishiba Reiterates Intention to Stay in Office
- 07/23 21:28 Ishiba Reiterates Intention to Stay in Office
- 07/23 21:06 (Update) Key "Luffy" Crime Group Member Gets 20 Yrs in Prison
- 07/23 20:15 (Update) Governors Urge Japan Govt to Address Population Decline
- 07/23 20:07 Japan, EU Vow to Expand Defense, Economic Security Cooperation
- 07/23 18:18 Tokyo Cultural Site Turned into Different World before Temporary Closure
- 07/23 18:07 (Update 3) Embattled Japan PM Ishiba to Decide His Fate Soon
- 07/23 17:58 Japan Posts Record Heatstroke Sufferers in June
- 07/23 17:48 (Update) Key 10-Year JGB Yield Hits Over-16-Year High of 1.6 Pct
- 07/23 17:48 (Update) Nikkei Briefly Jumps 1,500 Points on Japan-U.S. Deal
- 07/23 17:14 Senior Member of "Luffy" Crime Ring Gets 20 Yrs in Prison
- 07/23 17:10 Governors Urge Japan Govt to Address Population Decline
- 07/23 16:53 Nikkei Briefly Jumps 1,500 Points on Japan-U.S. Deal
- 07/23 16:15 JFTC OKs Visa Worldwide's Biz Improvement Plan
- 07/23 16:06 Japanese, Overseas Economies at Critical Juncture: BOJ Uchida
- 07/23 15:26 Nobel Committee Chair Visits Hiroshima
- 07/23 15:18 (Update 2) Japan, U.S. Strike Trade Deal with Tariff Rate at 15 Pct
- 07/23 13:21 (Update 2) Embattled Japan PM Ishiba to Decide His Fate Soon
- 07/23 12:46 Antiwhaling Activist Watson Removed from Interpol Wanted List
- 07/23 12:21 (Update) Japan PM Ishiba to Decide His Fate Soon
- 07/23 11:37 Ishiba to Decide His Fate Based on Japan-U.S. Agreement
- 07/23 10:00 (Update) Trump Announces Trade Deal with Japan Involving 15 Pct Levy
- 07/23 08:49 Trump Announces Trade Deal with Japan Involving 15 Pct Tariff
- 07/23 08:30 Baseball Teams Trying to Fight Off Japan's Torrid Summer Heat
- 07/23 00:58 Ishiba Facing Backlash over Decision to Stay On
- 07/22 22:51 Japan Opposition Parties Vow to Enact Gasoline Tax Cut
- 07/22 22:18 Ishiba Pledges Defense Aid for Papua New Guinea
- 07/22 22:06 Sanseito Seeks to Win 40 Seats in Lower House
- 07/22 21:50 Evacuees from Quake-Hit Southwestern Japan Islands to Return
- 07/22 21:13 JR East to Resume E8 Shinkansen Train Operations
- 07/22 20:07 Japan Average Rice Price Falls for 8th Straight Week
- 07/22 19:45 Akazawa Holds Tariff Talks with Lutnick
- 07/22 19:25 Authorities See Matsumoto's Second Son as Aleph Leader
- 07/22 19:02 Yoichi Shibuya, Founder of 'Rockin'on' Magazine, Dies at 74
- 07/22 18:52 Baseball Team Hiroshima Carp Opens Limited-Time Store in S'pore
- 07/22 17:32 LDP Chapters Urging PM Ishiba to Resign
- 07/22 16:49 Rice Grain-Sized Earphone May Have Been Used to Cheat on Test
- 07/22 15:57 Kansai Electric to Survey Fukui Pref. Site for New Reactor
- 07/22 14:54 CDP's Noda Seeks to Deepen Ties within Opposition Camp
- 07/22 12:40 Lutovinov Appointed Ukrainian Ambassador to Japan
- 07/22 12:37 5 Ex-SMBC Nikko Officials Convicted in Market Manipulation Case
- 07/22 12:34 Akazawa Starts 8th U.S. Visit for Tariff Talks
- 07/22 11:45 "Yokai" Come to Life in Immersive Exhibition in Nagoya
- 07/22 09:37 U.S. Seeking Best Deal for Americans in Talks with Japan: Bessent
- 07/21 20:34 Record 42 Women Elected to Japan's Upper House
- 07/21 19:48 Japan Briefs Australia on Frigate for Export
- 07/21 18:30 Japan May Convene Extra Diet Session Aug. 1
- 07/21 18:06 (Update) Japan PM Ishiba Announces Intent to Stay in Office
- 07/21 17:30 24 Pct Hope for Change of Govt after Election: Exit Poll
- 07/21 16:29 Voter Turnout Rises to 58 Pct in Japan Upper House Election
- 07/21 15:39 Ex-Residents of Japan-Claimed Isles Hold Memorial at Sea
- 07/21 15:00 Japan PM Ishiba Reiterates Intent to Stay in Office
- 07/21 13:42 47 Pct Turn to Social Media, Videos for Voting Decisions: Exit Poll
- 07/21 13:20 (Update) Japan's Ruling Coalition Loses Upper House Majority
- 07/21 09:49 Japan's Ruling Coalition Loses Upper House Majority
- 07/21 05:42 Japan's Ruling Bloc Certain to Lose Upper House Majority
- 07/21 05:06 Sanseito Makes Impressive Gains in Japan Upper House Poll
- 07/21 04:04 (Update 2) Voter Turnout at 58.52 Pct in Japan Upper House Poll
- 07/21 03:57 (Update 3) Japan Ruling Bloc Struggles to Keep Upper House Majority
- 07/21 03:06 (Update) Voter Turnout Estimated at 57.91 Pct in Japan Upper House Poll
- 07/21 02:50 Japanese Opposition Leader Noda Vows to Pursue Change of Govt
- 07/21 01:09 Ishiba May Come Under Pressure to Step Down
- 07/20 23:22 (Update 2) Japan Ruling Bloc Struggles to Keep Upper House Majority
- 07/20 22:48 Ishiba Says He Will Stay in Office
- 07/20 21:21 (Update) Japan Ruling Bloc Struggles to Keep Upper House Majority
- 07/20 20:22 Japan Ruling Bloc Struggles to Keep Upper House Majority
- 07/20 18:02 Record 26.18 M. People Vote Early in Japan's Upper House Poll
- 07/20 15:54 (Update 2) Voting Underway in Japan's Upper House Election
- 07/20 11:53 (Update) Voting Underway in Japan's Upper House Election
- 07/20 08:17 Voting Begins for Japan's Upper House Election
- 07/19 22:47 Ex-Japanese Wrestler Hitomi Obara Dies at 44
- 07/19 20:11 Akazawa to Visit Washington Next Week for Tariff Talks
- 07/19 19:56 Record 21.45 M. Vote Early in Japan Upper House Poll
- 07/19 18:32 Astellas Employee Intends Not to Appeal Conviction in China
- 07/19 17:18 Nepal Pavilion Finally Opens at Osaka Expo
- 07/19 16:47 Japanese Doctor Picked for U.N. Panel on Nuclear War Impact
- 07/19 15:50 Reuse of Fukushima Soil Begins at PM Office in Tokyo
- 07/19 13:33 Eel Restaurants Draw Crowds on Day of Ox amid Summer Heat
- 07/19 02:15 G-20 Officials Affirm Importance of Multilateral Cooperation
- 07/19 00:03 Kansai Electric Eyes Next-Generation Reactor at Plant in Fukui Pref.
