US-Japan Trade Pact Cuts Tariffs to 15%
US President Donald Trump has announced a new trade agreement with Japan, featuring a 15% tariff on Japanese imports, down from a previously threatened 25%.
The deal also includes a Japanese pledge to invest $550 billion in the United States and grant greater market access to American automobiles and rice.
Trump, posting on Truth Social, called the agreement transformative, predicting it would generate hundreds of thousands of new jobs. He also reaffirmed strong bilateral ties, saying the US would always maintain a close relationship with Japan.
Japanese Prime Minister Shigeru Ishiba
said
he would review the agreement carefully before offering detailed remarks. Speaking from Tokyo, he confirmed that he had been briefed by chief trade negotiator Ryosei Akazawa, who had led discussions in Washington.
Following the announcement, Japanese automaker stocks soared. Mazda rose 12%, Toyota 10%, Honda over 8%, and Nissan 6.5%. The broader Nikkei Index also climbed 1.7% in response to the deal.
Economist Kazutaka Maeda from the Meiji Yasuda Research Institute praised the agreement for lowering recession risks but noted its politically awkward timing.
The deal's finalization after Sunday's underwhelming upper house election result offered little immediate boost to Prime Minister Ishiba's political standing.
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