US-Japan trade deal

PRESIDENT Donald Trump has announced a trade framework with Japan, placing a 15% tax on goods imported from that nation.

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“This Deal will create Hundreds of Thousands of Jobs - There has never been anything like it,” Mr Trump posted on Truth Social, adding that the United States “will continue to always have a great relationship with the Country of Japan”.

The president said Japan would invest “at my direction” 550 billion dollars into the US and would “open” its economy to American cars and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Mr Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting on August 1.