Factbox-Key facts on the US-Japan tariff deal
Tokyo (Reuters) -Uus President Donald Trump And Japanese Prime Minister Shigeru Ishiba said that they made a trade agreement that will include 15% on Wednesday. recipe Import from Japan. Here is what we know so far.
Agreement
In an article on real Social, Trump said that the agreement would include Japanese investments of $ 550 billion in the United States, and that he would develop market access to Japan for American goods, including cars, rice and other agricultural products.
According to government and industrial sources, the US said it would reduce a 25% punishing tariff in Japanese cars to 15%. Trump did not comment on the import of vehicles that make up more than one quarter of the country’s exports to the USA
The White House has not yet given the details of the agreement, Ishiba said he would examine the agreement made by Ryosei Akazawa, a tariff negotiator in Washington before releasing the content.
Tariff Death Date
Akazawa has traveled to the United States eight times since April for trade talks with US officials, including Treasury Secretary Scott Bessent and Trade Secretary Howard Lutnick. The last visit arrived days before the deadline date of the Trump administration, which said it would apply 25% tariff to all Japanese imports.
USA is the biggest export market in Japan. Economists predicted that Trump’s tariffs could reduce Japan’s GDP by up to percentage percentage.
Selection sprinkle
According to local media reports, the Tariff Agreement comes three days after Ishiba’s administration has lost the majority of the upper parliament in an election, and triggers its resignation, including its own liberal Democratic Party.
Following this defeat of this election, Ishiba said that Japan would remain in place to make a trade agreement with the US and to deal with the approaching economic problems.
Market reaction
Japanese automobile manufacturer shares, after the announcement of Nikkei shares on average higher and increased by 2% in early trade. Toyota Motor Corp’s shares increased by 9% with Honda Motor Co.
Benchmark 10 -year Japanese bond futures futures fell to 137.68 Yen until the lowest of the lowest 0.92 Yen since March 28.
(Reporting by Tim Kelly; regulation by Lincoln Feast.)
