Trump says U.S. reached Japan trade deal with 15% tariffs
Summary
The U.S. and Japan have agreed on a new trade deal that includes a 15% tariff on all goods traded between the two countries. Japan will also invest $550 billion in the U.S., receiving 90% of the profits from this investment. This deal is notable because it avoids the higher tariffs previously threatened by the U.S.Key Facts
- The trade deal sets a 15% tariff on goods between the U.S. and Japan.
- Japan plans to invest $550 billion in the U.S., with Japan receiving most of the profits.
- The previous threat was a 25% tariff if no deal had been reached.
- Japan's top tariff negotiator confirmed the deal during a visit to the White House.
- U.S.-listed shares of Japanese carmakers like Toyota and Honda increased after the announcement.
- U.S. imports from Japan last year totaled $148 billion.
- The deal could generate $22 billion in annual revenue from these tariffs.
- The U.S. and Japan are also discussing a joint venture for a gas pipeline in Alaska.
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