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President Donald Trump says the US has agreed to a “massive” trade deal with Japan, one of the country’s largest trading partners.
Japan has agreed to invest $ 550 billion in the US (407 billion pounds), while its goods sold to America will be taxed by 15% if they reach the country – below 25% of Trump’s tariffs threatened.
On social media, Trump said Japan would open its economy to US goods, including cars, trucks, rice and certain agricultural products.
Prime Minister Japan Shiger Isaib welcomed The announcement, saying it was “the lowest indicator to date among countries with the US surplus.”
“I just signed the biggest trading deal in history, I think maybe the biggest deal in history with Japan,” Tuesday night at the White House, the White House event.
“They had their main people, and we worked on it long and hard. And for all it is. I always say it should be great for everyone. It’s a lot,” he added.
On Wednesday, ISHIBA said the agreement would mean that the US vehicles and details will decline to 15% of 25%.
However, the tax above 10% of Trump, which is charged in Japan and other countries when it rejected higher so -called mutual tariffs between April to July.
Isaib said: “We were the first in the world to reduce the tariffs on cars and auto parts without any restrictions on the number.”
The UK cars directed in the US are taxed with less than 10%when they reach US shores, but it is limited to 100,000 car quotas.
Ishiba added: “The agreement does not include a decrease in tariffs on the Japanese side.”
The BBC contacted the White House and the Japan Embassy in Washington for more details of the trade agreement.
Having reduced its main tariff rate to 15%is “Japan’s best compromise at this stage,” BBC News Shigeto Nagai from Oxford Economics research firm.
The planned investment in the United States by Japan, included in the ad, “will be a great impetus for the restoration of the United States, given the history of Trump on the revival of US production with more jobs,” he added.
In a letter sent to Japan this month, Trump threatened 25% of the country’s export tariff, if there was no new trading transaction until August 1, just above the rate he announced during his so -called liberation day on April 2.
The April tariff plan, which included the responsibilities of many US trading partners worldwide, were stopped 90 days after the world’s shock upheaval. This allowed Tokyo Trade Representatives to negotiate with their colleagues in Washington.
The Japanese indicator of the lobe index, Nikkei 225, was more than 3% higher on Tokyo on Wednesday, with a strong profit for the Motor Industry giants – including Toyota, Nissan and Honda.
The obvious transaction comes as Isiba is under pressure to leave after its liberal -democratic party (LDP) lost most In the country’s upper house in the elections last weekend.
Last year, LDP had already lost most in the more powerful lower house of Japan.
