Trump: US and Japan Reach Trade Agreement! Key Ally to Invest $550 Billion in the US, US to Impose 15% Tariff on Japanese Imported Products
US President Trump has announced that he has reached a trade agreement with Japan; according to this agreement, this key ally will invest $5,500 billion in the US, and the US will impose a 15% tariff on Japanese imported products.
Trump wrote on Truth Social that "we have just reached a major agreement with Japan, which may be the largest in history." The yen rose sharply after this news, but then retreated.
Trump stated that the agreement requires Japan to "open its country" and allow US cars and other agricultural products (000061) to be imported, but he did not provide further details.
More details of the preliminary agreement with Japan have yet to be disclosed. Trump's previous trade framework announcement did not mention many specific details, and the White House usually only publishes details a few days or weeks later when finalizing specific clauses.
The yen rose 0.3% against the dollar to 146.25, Tokyo time 8:24, at 146.76.