The United States has officially implemented a trade agreement reached with Japan on July 22, taking tariffs on automobiles and other goods lower while outlining Japan’s commitments in the deal.
In an executive order signed by U.S. President Donald Trump on Thursday in Washington, both “reciprocal” and auto tariffs on Japan are set at 15%. It instructs U.S. authorities to modify rates accordingly within seven days of publication in the Federal Register
The order describes Japan’s $550 billion investment offer as “unlike any other agreement in American history.”
“These investments — which will be selected by the United States Government — will generate hundreds of thousands of United States jobs, expand domestic manufacturing, and secure American prosperity for generations,” the order read.
The document also said that Japan agreed to purchase U.S.-made commercial aircraft and defense equipment.
Trump signed the order the same day as Ryosei Akazawa, Japan’s chief tariff negotiator, arrived in Washington for a 10th round of tariff talks.
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