2 hours agoTrump lowers tariffs for Japanese cars Tokyo invests billions of US dollars
Periskopi(9 months ago)
(9 months ago)United States President Donald Trump signed an executive order Thursday that lowers the tariffs for Japanese car imports from 27.5% to 15%, facilitating uncertainty for automobile giants such as Toyota, Honda and Nissan. This order forms an agreement announced earlier in July, which sets a 15% fee for almost [...]
This order forms an agreement announced earlier in July, which stipulates a 15% fee for almost all Japanese exports to the US, including vehicles and pharmaceutical products.
Under the deal, Japan has agreed to invest $550 billion in American projects and gradually open its economy for American goods, including cars and rice. The White House announced that Japan will buy US goods worth $8 billion annually, including agricultural products, garbage and bioethanol, and will gradually increase American rice imports by 75%.
The deal aims to lower the US trade deficit with Japan and offer American businesses new opportunities in the Japanese market. Trump named the deal as a <x0fital for all”.
Cars make up about 20% of Japan's total exports, and the American market is its largest.
The previously imposed Trump tariffs have caused shock in the global industry, with Japanese producers warning billions of losses. After signing the order, shares of companies such as Toyota and Honda rose significantly on the Tokyo Stock Exchange. /abcnews. al
