President Trump on Tuesday announced that his administration had reached an agreement with Japan on trade, which would see the U.S. impose a 15 percent tariff on Japanese goods.
Trump posted on Truth Social that Japan would invest $550 billion in projects in the United States, though he did not specify what those investments would entail. He also said Japan would open its markets to U.S. automobiles, rice and other agricultural products.
Japan will also pay a 15 percent tariff to export its goods into the United States, Trump said. That is lower than the 25 percent tariff Trump had threatened to impose on Japan beginning Aug. 1.
“This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan,” Trump posted.
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Author: Faith Novak
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