Washington, D.C. — President Trump unveiled a new trade agreement with Japan on Tuesday, implementing a 15% tariff on Japanese imports and describing the deal as a major accomplishment.
Trump wrote on Truth Social that the agreement “will create Hundreds of Thousands of Jobs — There has never been anything like it,” and emphasized that the U.S. “will continue to always have a great relationship with the Country of Japan.”
As part of the deal, Japan has agreed to invest $550 billion into the U.S. economy “at my direction,” while also pledging to “open” its markets to American cars and rice, reports the Associated Press.
The 15% tariff is lower than the 25% rate previously suggested by Trump in correspondence with Japanese Prime Minister Shigeru Ishiba. Still, some specifics remain uncertain, including whether Japanese automobiles will continue to face the 25% tariff. Vehicles make up more than a quarter of Japan’s exports to the United States, according to Reuters.
The U.S. posted a $69.4 billion trade deficit in goods with Japan in 2024, according to Census Bureau figures. The trade announcement comes just ahead of the broader tariffs Trump plans to implement starting August 1.
United States Politics Blog