A trade deal between President Donald Trump and Japan will impose new 15% tariffs on imports, including automobiles. The agreement creates a $550 billion fund for US investments. Key aspects of the deal were finalized after a 75-minute meeting between Trump and Japanese negotiators. Importantly, this agreement spares Japan from a proposed 25% tariff that was supposed to go into effect shortly afterward, providing certainty for car manufacturers facing potential trade disruptions.
President Donald Trump reached a trade deal with Japan that will impose 15pc tariffs on imports including automobiles from the key American ally, while creating a $550bn fund to make investments in the US.
The agreement, touted by Trump after he secured breakthroughs in a final 75-minute Oval Office meeting Tuesday with Japanese negotiators, spares the nation from a threatened 25pc tariff that was set to take effect next week.
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