Trump Announces Largest Ever Deal With Japan, Keeps Import Tariffs At 15% | World News

US President Donald Trump announced on Wednesday that the United States and Japan have ‘made the biggest agreement so far’ and Japan invested $ 550 billion in the United States and America.

“We have completed a major agreement with Japan so far. Japan will invest 550 billion dollars in the United States in my direction, which will take 90% of the profit,” Trump said.

Trump said that the agreement contains mutual tariffs set as 15 percent in Japanese imports and required to open Japan’s markets to American products, including cars, trucks, rice and some agricultural goods.

“This agreement will create hundreds of thousands of jobs – such a thing has never happened. Perhaps most importantly, Japan will open the countries to trade, including automobiles and trucks, rice and some other agricultural products and other things. This will pay mutual tariffs to the United States to the United States.

According to CNN, the agreement made a breakthrough after months of negotiations with key trade partners as Trump approached the deadline for higher tariffs. The Japan agreement was one of Trump’s three major trade developments that he announced that day.

CNN, Japan is one of the most important trade partners of the United States and is the fifth largest source of imports, he said. Last year, Japan sent $ 148 billion to the US, including cars, car parts, agriculture and construction machines.

The goods from Japan faced a 24% mutual tariff before Trump started a 90 -day pause in April. Since then, they have been subjected to at least 10% tariffs. At the beginning of this month, CNN warned Prime Minister Ishiba that he could apply 30% tariff from August 1.

In contrast, the US exported 80 billion dollars of goods, including oil and gas, pharmaceutical and aviation products last year.

While Japan is a close ally of the United States, China is the best trade partner. CNN reported that the Trump administration called on allies to reduce trade with China as a condition to secure trade agreements with Washington.

The agreement allows more goods to be sent free of charge by following a 2019 expanded trade agreement between the two countries that came into force the following year. Japan is also a US Treasury’s securities of $ 1.1 trillion, which is the largest foreign creditor in the United States.

(With memory entrances)