logo
Trump announces ‘massive' trade agreement with Japan that includes 15% tariff: ‘To create Hundreds of Thousands of Jobs'

Trump announces ‘massive' trade agreement with Japan that includes 15% tariff: ‘To create Hundreds of Thousands of Jobs'

Mint2 days ago
President Donald Trump on Tuesday announced that the United States and Japan have reached a trade agreement, which includes a 15% tariff to be imposed on goods imported from Japan into the US.
The deal would include $550 billion of Japanese investments in the United States, Trump said in a post on Truth Social, and added that Japan would increase market access to American producers of cars, trucks, rice and certain agricultural products, among other items.
The US President, however, made no mention of easing tariffs on Japanese automobiles, which account for more than a quarter of all the country's exports to the United States and are subject to a 25% tariff.
"We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things," Trump said.
'Japan will pay Reciprocal Tariffs to the United States of 15%. This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!'
Trump's announcement follows a meeting with Japan's top tariff negotiator, Ryosei Akazawa, at the White House on Tuesday, according to a person familiar with the matter.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sensex projected to touch 115,836, Nifty to surpass 43,800 by FY28: Report
Sensex projected to touch 115,836, Nifty to surpass 43,800 by FY28: Report

Hans India

time24 minutes ago

  • Hans India

Sensex projected to touch 115,836, Nifty to surpass 43,800 by FY28: Report

Mumbai: In a bull case scenario, Sensex is projected to reach 115,836 and Nifty is likely touch 43,876 by the financial year 2028 (FY28), a report said on Friday. However, in a bear case scenario, Sensex is projected to reach 1,04,804 and Nifty at 39,697 by FY28, Ventura, a stock broking platform, said in its recent projection. Nifty is expected to oscillate within a well-defined price-to-earnings (PE) band in these three years, with projected robust earnings growth with estimated FY28 earnings per share compound annual growth rate (EPS CAGR) of 12-14 per cent. 'In the last 10 years, the Indian economy has demonstrated resilience and clocked the highest GDP growth as a large economy despite global headwinds of NBFC crisis, Covid 19, Russia-Ukraine war and the recent uncertainty on US President Donald Trump tariff," said Vinit Bolinjkar, Head of Research, Ventura. The risk mitigation influencers will outweigh the current challenges, which will usher Indian GDP growth to 7.3 per cent by FY30(E), he added. By FY28, the Indian index will be at a PE level of 21 times in the bull case and 19 times in the bear case with an estimated earnings-per-share (EPS) of 5,516 for Sensex and 2,089 for Nifty 50, the report stated. Over the past ten years, India has demonstrated extraordinary resilience by navigating a series of unprecedented disruptions without compromising its growth trajectory. From the "Fragile Five" designation to demonetisation, GST implementation, a crippling NBFC crisis, and the dual shock of COVID-19 waves, India has withstood and adapted to adversity, the report highlighted. According to the report, even global headwinds like the Russia-Ukraine war and Trump-era tariffs have failed to derail its momentum, underlining the robustness of the Indian economy. As of the mid-season point for Q1 FY26 earnings, 159 companies have reported Q1 FY26 results, revealing broad-based strength across key sectors. Engineering/manufacturing and services sectors have led the pack, while consumption, commodities, and pharma show steady performance, the report stated.

Iran Meets UK, France and Germany for Nuclear Talks
Iran Meets UK, France and Germany for Nuclear Talks

Mint

time24 minutes ago

  • Mint

Iran Meets UK, France and Germany for Nuclear Talks

(Bloomberg) -- Iranian and European officials held nuclear talks in Istanbul on Friday as tensions simmer over Tehran's nuclear program after it was targeted by a US military strike last month. Diplomats from the Islamic Republic met with counterparts from the UK, France and Germany — the so-called E3 bloc of top European economies — at around 10:30 a.m. local time to try and ease a standoff over Iran's atomic activities. The talks come about a month after the US bombed three key nuclear sites in Iran, triggering a break in international inspections of its atomic activities and raising questions over the whereabouts of its stockpile of enriched uranium. The strike also derailed separate nuclear negotiations between the Islamic Republic and the Trump administration. The E3 helped broker a 2015 nuclear deal — known formally as the Joint Comprehensive Plan of Action — with Iran that imposed strict limits on Tehran's atomic work in exchange for sanctions relief. Friday's talks are important because they could delay any effort by the Europeans to 'snap back' broad United Nations sanctions that were lifted as part of that accord. French Foreign Minister Jean-Noël Barrot last week announced the possibility of reimposing the sanctions by the end of August if Iran fails to reach a deal limiting its nuclear program. Iran's Foreign Minister Abbas Araghchi has said that the E3 has lost any right to invoke the JCPOA's snapback mechanism, which expires in October, because it failed to meet its own obligations under the agreement after US President Donald Trump withdrew from it seven years ago. On Wednesday, Iran's Deputy Foreign Minister said Tehran has 'not ruled out' withdrawing from the Treaty on the Non-Proliferation of Nuclear Weapons if the UN were to reimpose sanctions. 'That's still on the table,' Kazem Gharibabadi, who's attending the Istanbul talks, told reporters. 'I'm quite confident that if the snapback is triggered, Iran will not show more restraint in this regard,' he said. --With assistance from Patrick Sykes. (Updates lead to reflect talks have started.) More stories like this are available on

Vietnamese Stocks Reach Record High on Inflows, Trade Optimism
Vietnamese Stocks Reach Record High on Inflows, Trade Optimism

Mint

time24 minutes ago

  • Mint

Vietnamese Stocks Reach Record High on Inflows, Trade Optimism

(Bloomberg) -- Vietnamese shares rose to a record high, aided by the return of foreign fund inflows amid optimism about a trade deal with the US. The benchmark VN Index rose 0.7% to 1,531.13 at the close, surpassing its last high in January 2022. Vietnam Prosperity JSC Bank and Vinhomes JSC were among the top contributors to the gains. Foreign investors have bought about $413.7 million of Vietnamese stocks on a net basis so far this month, according to data complied by Bloomberg. The Southeast Asian nation's equities have extended a rally since early July, when President Donald Trump said he had reached a trade deal with Vietnam with a 20% tariff, which is lower than the 46% duty first announced in April. While Vietnamese negotiators said they are still working out details of an agreement, there are expectations for global investors to further expand their exposure to the country's shares. 'The strong rally is on the back of robust GDP growth and reduced uncertainties over US tariffs,' said Ruchir Desai, a fund manager at Asia Frontier Capital in Hong Kong. 'If economic momentum continues in the second half and if there is no major impact on overall export growth especially to the US, then the rally can sustain.' Vietnam is keeping its target of at least 8% gross domestic product growth this year, and will continue to strive for economic expansion of 10% or above in 2026-2030, Deputy Prime Minister Ho Duc Phoc said earlier this month. The economy expanded by 7.5% in the six months through June. (Updates with closing level) More stories like this are available on

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store