Commerce Secretary Howard Lutnick revealed to the Daily Caller Thursday how he negotiated a massive trade deal with Japan on behalf of the Trump administration.
President Donald Trump announced on Wednesday via Truth Social that his administration had secured a trade deal with Japan, which included a $550 billion investment in the United States. Lutnick explained to Daily Caller Editor-in-Chief Dylan Housman how he thought up the deal and negotiated with Japan for six months to secure the historic investment.
“Japan was facing a 25% tariff, and their auto industry could not, of course, stay in Japan and sell cars to America at a 25% tariff. It just doesn’t work,” Lutnick began.
“The answer was, they offered us and, and this was my idea, and I worked on it for almost six months. In January, I pitched it to the President… this is the Japanese government saying to Donald Trump, ‘the Japanese will finance at their cost any project for national security or that’s important to Donald Trump in the United States of America,’” Lutnick continued.
As a part of the deal, Japan will pay 15% reciprocal tariffs to the U.S.. Lutnick told the Caller that the United States won’t pay any reciprocal tariffs as a result of the deal he negotiated.
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Author: Marty Kaufmann
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