Trump announced on social media that Japan will invest USD 550 billion in the United States and impose a 15% tariff on its products.
“I just signed the greatest trade deal in history, I think it's the greatest deal in history with Japan,” Trump stated at an event at the White House on Tuesday evening. "They brought their best people here and we worked long and hard on it, and it's a great deal for everybody. I always say it should be great for everybody," he declared.
Japanese Prime Minister Shigeru Ishiba welcomed the deal, describing it as “the lowest ever among countries running a trade surplus with the United States.” Ishiba also emphasized that the US tariffs on vehicles and spare parts will be reduced from 25% to 15%, with no quantity limitations.
“For the first time in the world, we have reduced tariffs on automobiles and automobile spare parts without any quantity restrictions,” Ishiba noted. However, he added that there was no tariff reduction on the Japanese side.
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