July 23, 2025 9:36 AM
Trump strikes trade deal with Japan to cut tariffs
The United States and Japan struck a deal to lower the hefty tariffs President Donald Trump threatened to impose on goods from its Asian ally that included a $550 billion package of U.S.-bound investment and loans from Tokyo. The agreement will bring immediate relief to Japan's critical autos sector with existing tariffs cut to 15% from 25%, and proposed levies on other Japanese goods that were set to come in on August 1 also cut by the same amount. Autos make up more than a quarter of all...