Trump says he's struck a "massive" trade deal with Japan, calling for 15% tariffs
CBSN
President Trump said Tuesday he has struck a "massive" trade deal with Japan that calls for 15% tariffs on goods the U.S. imports from the country.
The president wrote on Truth Social that, as part of the agreement, Japan will invest $550 billion into the U.S., "which will receive 90% of the Profits." He also said Japan will "open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products." The 15% tariff rate floated by Mr. Trump is somewhat lower than the 25% that he proposed earlier this month, or the 24% duties that were proposed on "Liberation Day" in early April.
"This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan," Mr. Trump wrote on Tuesday.
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