Trump Enacts Unprecedented Trade Agreement with Japan
(MENAFN) On Thursday, President Donald Trump signed an executive order enacting a groundbreaking trade agreement with Japan. The deal, according to a White House statement, sets a baseline 15% tariff on nearly all imports from Japan, with exceptions for specific goods, while granting American products expanded access to Japan's market.
The executive order also facilitates what the White House described as a “unprecedented” agreement, securing $550 billion in Japanese investments for U.S. projects. The investments, selected by the U.S. government, are expected to create hundreds of thousands of jobs, boost manufacturing, and ensure long-term economic prosperity.
In a July announcement, Trump hailed the deal as “perhaps the largest deal ever made,” referencing the agreement in a post on his social media platform, Truth Social, which he owns.
As part of the agreement, Japan has committed to significantly increasing its purchase of U.S. agricultural exports, including corn, soybeans, and rice, which will total approximately $8 billion. Japan will also purchase U.S.-made commercial aircraft and defense equipment while easing restrictions on American cars that comply with U.S. safety standards.
“This agreement lays the foundation for a new era of U.S.-Japan trade relations grounded in reciprocity,” Trump said in the executive order.
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