Japan and the United States have reached a trade deal with the “reciprocal” tariff rate set at 15%, U.S. President Donald Trump announced Tuesday.
The president did not mention sector-specific tariffs currently in place, including a 25% levy on vehicles and auto parts and 50% on steel and aluminum.
NHK reported the overall tariff rate on autos will be 15%, citing unnamed Japanese officials. The rate is half of the 25% rate, which went into effect in April, combined with a 2.5% duty on autos charged independent of Trump tariffs, according to the broadcaster.
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