BREAKINGBREAKING,
US president says Japanese exports will be subject to a 15 percent tariff under the trade agreement.
United States President Donald Trump has announced that he has struck a “massive” trade deal with Japan following months of fraught negotiations.
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.
“We just completed a massive Deal with Japan, perhaps the largest Deal ever made,” Trump wrote on his Truth Social platform.
“Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs – There has never been anything like it. Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things.”
The Japanese government had no immediate confirmation or comment.
More to follow…
