US president announces Japanese exports will face a 15 percent tariff as part of new trade agreement.
With the agreement revealed on Tuesday, the US will implement a 15 percent tariff on Japanese exports, and Japan has agreed to invest $550 billion in the US according to Trump.
“We just completed a massive Deal with Japan, perhaps the largest Deal ever made,” Trump posted on his Truth Social platform.
“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.”
The Japanese government has not yet confirmed or commented on the information.
Following the announcement, the market in Japan experienced a surge, with the Nikkei 225 benchmark stock index increasing by 1.7 percent during early trading.
More details to follow…
