US President Donald Trump announced a trade agreement with Japan that includes a 15% tariff on Japanese imports into the United States, while also reducing tariffs on autos to that level.
In a post on his Truth Social platform, Trump described this agreement as perhaps the largest ever, adding that Japan will invest $550 billion in the United States.
He added that Japan will open its country to trade, including cars, trucks, rice, and some recent agricultural products, among other items, explaining that the agreement will create hundreds of thousands of jobs.
Auto exports to the United States are a cornerstone of the Japanese economy, accounting for 28.3% of total shipments in 2024.
This agreement avoids the 25% tariffs Trump threatened to impose on Japanese imports, which were due to take effect next week
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