Breaking News Live Updates: Japan, US agree to lower Japan auto tariff to 15%, sources told Reuters
Breaking News Live Updates: Japan and the United States have agreed to set Japanese auto tariffs at 15%, five sources told Reuters.
Breaking News Live Updates: Japan and the United States have agreed to set Japanese auto tariffs at 15%, five sources told Reuters.The countries have agreed to reduce additional tariffs on Japanese automobiles to 12.5% from an earlier planned 25%, bringing the total to 15%, including the original 2.5% rate, the sources said. Show more The U.S. Financial Industry Regulatory Authority (FINRA) is probing Morgan Stanley over whether it properly vetted its clients for money-laundering risks, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The U.S. Justice Department accused a panel of New Jersey federal court judges of political motives for declining to permanently appoint Republican President Donald Trump's former lawyer Alina Habba as the state's top federal prosecutor.The judges on the U.S. District Court in New Jersey named Desiree Grace, the second highest-ranking official in the U.S. attorney's office, to replace Habba on Tuesday. Hours later Attorney General Pam Bondi said Grace had been removed."This Department of Justice does not tolerate rogue judges — especially when they threaten the President's core Article II powers," Bondi wrote in a post on X, referring to Trump's authority under the U.S. Constitution.Federal law allows district courts to intervene if an interim U.S. attorney has not received Senate approval within 120 days. Japan will effectively raise the portion of rice it imports from the United States as part of the bilateral trade deal, Japanese public broadcaster NHK reported on Wednesday.Japan will keep the overall "minimum access" framework for rice imports, according to the report.Under a World Trade Organization (WTO) minimum access framework introduced in 1995, Japan imports about 770,000 metric tons of rice tariff-free every year. President Donald Trump said he has reached a trade agreement with Philippine leader Ferdinand Marcos Jr., following a meeting Tuesday at the White House, that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there.Trump revealed the broad terms of the agreement on his social media network and said the U.S. and the Philippines would work together militarily. The announcement of a loose framework of a deal comes as the two countries are seeking closer security and economic ties in the face of shifting geopolitics in the Indo-Pacific region.Marcos' government indicated ahead of the meeting that he was prepared to offer zero tariffs on some U.S. goods to strike a deal with Trump. The Philippine Embassy did not immediately respond to a message seeking comment.Marcos' three-day visit to Washington shows the importance of the alliance between the treaty partners as China is increasingly assertive in the South China Sea, where Manila and Beijing have clashed over the hotly contested Scarborough Shoal. Japan and the United States have agreed to set Japanese auto tariffs at 15%, five sources told Reuters.The countries have agreed to reduce additional tariffs on Japanese automobiles to 12.5% from an earlier planned 25%, bringing the total to 15%, including the original 2.5% rate, the sources said.
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