Trump Signs Order to Cut Tariffs on Japanese Auto Imports
U.S. President Donald Trump signed an order on Thursday to implement lower tariffs on Japanese automobile imports and other goods previously announced in July.
The tariff rate on Japanese cars will be cut from 27.5% to 15% and is scheduled to take effect by the end of September. According to the order, the new rate will apply seven days after publication, with some tariff relief retroactively effective from August 7.
Trade Commitments from Japan
The agreement also outlines Japan’s commitments to boost U.S. agricultural purchases. Tokyo pledged to increase rice imports by 75%, alongside larger imports of corn, soybeans, fertilizer, and bioethanol, including sustainable aviation fuel. In total, these purchases will amount to $8 billion annually.
Japanese Investment in U.S. Projects
In addition, the Japanese government has agreed to invest $550 billion in the United States. The funds will be directed into projects chosen by the U.S. government, further strengthening economic ties between the two nations.
