WASHINGTON — President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation, according to an Associated Press report.
“This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States “will continue to always have a great relationship with the Country of Japan.”
The president said Japan would invest “at my direction” $550 billion into the U.S. and would “open” its economy to American autos and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1.
Early Wednesday, Ishiba acknowledged the new trade agreement, saying it would benefit both sides and help them work together.
With the announcement, Trump is seeking to tout his ability as a dealmaker — even as his tariffs, when initially announced in early April led to a market panic and fears of slower growth that for the moment appear to have subsided. Key details remained unclear from his post, such as whether Japanese-built autos would face a higher 25% tariff that Trump imposed on the sector.
Click here to read the full Associated Press report.
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