President Trump announced a substantial trade agreement with Japan, where Japanese exports will be taxed at a 15 percent tariff. Japan is committing to invest $550 billion in the United States, with the US securing 90% of the profits. The deal allows for increased US exports of cars, rice, and agricultural products to Japan, which is expected to generate hundreds of thousands of jobs. Prior to this agreement, Japanese exports faced a baseline tariff of 10 percent, potentially rising to 25 percent without a resolution.
Under the agreement announced on Tuesday, the US will impose a 15 percent tariff on Japanese exports and Japan will invest $550bn in the US, Trump said.
Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits.
Japan will also open up to US exports of cars, rice and certain agricultural products, Trump said, saying the deal would create hundreds of thousands of jobs.
There has never been anything like it, Trump wrote.
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