Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
WASHINGTON, July 23 (Xinhua) — The United States has reached a trade deal with Japan that includes a 15 percent tariff on Japanese goods, U.S. President Donald Trump said on social media on Tuesday.
Japan will invest $550 billion in the United States, which will receive 90 percent of the profits, he said, adding that the deal will create hundreds of thousands of jobs.
"Japan will open its country to trade, including cars and trucks, rice and some other agricultural products, and other goods. Japan will pay the United States equivalent tariffs of 15 percent," the president wrote.
In a recent letter to Japanese Prime Minister Shigeru Ishiba, the U.S. leader threatened to raise tariffs on Japan to 25 percent from August 1, up from the 24 percent tariff announced on April 2.
As one of the United States' major trading partners, Japan has been tough in bilateral trade negotiations.
According to the Office of the U.S. Trade Representative, the U.S.-Japan merchandise trade deficit in 2024 was $68.5 billion, with imports from Japan reaching $148.2 billion and exports to Japan reaching $79.7 billion.
D. Trump also announced a trade deal with the Philippines after meeting with the country's President Ferdinand Marcos Jr. earlier on Tuesday.
The White House did not release details of the trade deals with the Philippines and Japan.
On Tuesday, U.S. officials released more details about the trade deal with Indonesia, which was announced July 15. Indonesia will eliminate about 99 percent of tariff barriers on a full range of U.S. manufactured, food, and agricultural goods, while the United States will impose a 19 percent tariff on Indonesian imports. Jakarta will also lift restrictions on exports to the U.S. of manufactured goods, including key minerals.
Earlier in July, Trump pushed back the tariffs' implementation date from July 9 to August 1 amid ongoing negotiations with the European Union and other major trading partners. –0–
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