Latest news with #US Japan trade
Yahoo
23-07-2025
- Business
- Yahoo
Trump announces 'massive' Japan trade deal including 15% tariff
President Donald Trump said Tuesday that the United States had agreed to a "massive" trade deal with Japan that would include a 15 percent tariff on its exports. The two countries have been locked in negotiations for months since Trump launched his global trade offensive, with levies targeting steel and automobiles -- both important Japanese exports -- seen as particular sticking points. Trump had previously threatened Japan, a major US trading partner, with a tariff of 25 percent beginning August 1 if a deal was not reached. "We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump announced on his Truth Social platform. He said that under the deal, "Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits." He did not provide further details on the unusual investment plan, but claimed the deal "will create Hundreds of Thousands of Jobs." Japanese Prime Minister Shigeru Ishiba said that he needed to examine the deal before commenting. "As for what to make of the outcome of the negotiations, I am not able to discuss it until after we carefully examine the details of the negotiations and the agreement," Ishiba told reporters in Tokyo after Trump's announcement in Washington. - Rice imports? - Japan has agreed to "open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things," Trump said. Rice imports are a sensitive issue in Japan, and Ishiba's government had previously ruled out any concessions on the topic. Japan's Nikkei index bounced over one percent on news of the deal, with Japanese auto stocks rising six percent. The deal comes after Ishiba faced a bruising weekend election that left his coalition without a majority in the upper house. Trump has been under pressure to wrap up trade pacts after promising a flurry of deals ahead of his August 1 tariff deadline. Earlier on Tuesday, he announced a deal had been reached with the Philippines which would see the country face 19 percent tariffs on its exports. The White House also laid out details of a deal with Indonesia, which would see it ease critical mineral export restrictions and also face a 19 percent tariff. Similar agreements have been struck with the United Kingdom and Vietnam, while negotiations are ongoing with the top three largest US trading partners, China, Canada and Mexico. After an escalatory tit-for-tat with Beijing, the two major economies agreed to a temporary lowering of tariffs, with another round of negotiations expected next week in Stockholm. Since returning to the White House in January, Trump has imposed a sweeping 10 percent tariff on allies and competitors alike, alongside steeper levels on steel, aluminum and autos. Legal challenges to Trump's non-sectoral tariffs are ongoing. bur-bjt/des/bgs Inicia sesión para acceder a tu portafolio
News.com.au
23-07-2025
- Business
- News.com.au
Trump announces 'massive' Japan trade deal including 15% tariff
President Donald Trump said Tuesday that the United States had agreed to a "massive" trade deal with Japan that would include a 15 percent tariff on its exports. The two countries have been locked in negotiations for months since Trump launched his global trade offensive, with levies targeting steel and automobiles -- both important Japanese exports -- seen as particular sticking points. Trump had previously threatened Japan, a major US trading partner, with a tariff of 25 percent beginning August 1 if a deal was not reached. "We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump announced on his Truth Social platform. He said that under the deal, "Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits." He did not provide further details on the unusual investment plan, but claimed the deal "will create Hundreds of Thousands of Jobs." Japanese Prime Minister Shigeru Ishiba said that he needed to examine the deal before commenting. "As for what to make of the outcome of the negotiations, I am not able to discuss it until after we carefully examine the details of the negotiations and the agreement," Ishiba told reporters in Tokyo after Trump's announcement in Washington. - Rice imports? - Japan has agreed to "open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things," Trump said. Rice imports are a sensitive issue in Japan, and Ishiba's government had previously ruled out any concessions on the topic. Japan's Nikkei index bounced over one percent on news of the deal, with Japanese auto stocks rising six percent. The deal comes after Ishiba faced a bruising weekend election that left his coalition without a majority in the upper house. Trump has been under pressure to wrap up trade pacts after promising a flurry of deals ahead of his August 1 tariff deadline. Earlier on Tuesday, he announced a deal had been reached with the Philippines which would see the country face 19 percent tariffs on its exports. The White House also laid out details of a deal with Indonesia, which would see it ease critical mineral export restrictions and also face a 19 percent tariff. Similar agreements have been struck with the United Kingdom and Vietnam, while negotiations are ongoing with the top three largest US trading partners, China, Canada and Mexico. After an escalatory tit-for-tat with Beijing, the two major economies agreed to a temporary lowering of tariffs, with another round of negotiations expected next week in Stockholm. Since returning to the White House in January, Trump has imposed a sweeping 10 percent tariff on allies and competitors alike, alongside steeper levels on steel, aluminum and autos.
Free Malaysia Today
18-07-2025
- Business
- Free Malaysia Today
PM Ishiba says Japan will continue trade talks with US
Japanese PM Shigeru Ishiba responded to the US notification letter that Japan, along with South Korea, would be hit with a 25% tariff. (AP pic) TOKYO : Japanese Prime Minister Shigeru Ishiba said on Tuesday that Japan would continue negotiations with the US to seek a bilateral trade deal that benefits both countries. The remark came in response to US President Donald Trump's notification via a letter that Japan, along with South Korea, would be hit with 25% tariffs from Aug 1. While Tokyo and Washington have failed to reach an agreement so far, some progress has been made in talks that helped Japan avert a hike in US tariffs to around 30% or 35% as suggested recently by Trump, Ishiba told a meeting with cabinet ministers to discuss Japan's strategy on the tariffs. 'We have received a proposal from the US to swiftly proceed with negotiations towards the newly set Aug 1 deadline, and that depending on Japan's response, the content of the letter could be revised,' Ishiba said.
