WASHINGTON/TOKYO – Japan and the United States have reached a trade deal under which 15 percent tariffs will be imposed on Japanese autos and other products, lower than initially proposed by President Donald Trump, who touted the agreement between the longtime allies as historic.
The deal, first announced by Trump on Tuesday, capped off rounds of bilateral negotiations in which export-reliant Japan sought to reach a mutually beneficial agreement ahead of an Aug. 1 deadline for the imposition by Washington of a “reciprocal” 25 percent tariff on Japanese goods.
Japan will increase imports of U.S. rice within its “minimum access” quota, a framework in line with World Trade Organization rules, Japanese Prime Minister Shigeru Ishiba said.
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