The United States has officially lowered its tariff on Japanese automobiles to 15% from 27.5%, finally addressing some unfinished business that had added extra uncertainty to an already unpredictable and protracted trade war.
Japan and the United States first agreed to the reduced rate on July 22 as part of a broader deal in which "reciprocal" tariffs, which cover most other exports, were taken from 10% to 15% — but less than the 25% threatened.
Reciprocal duties were formally raised to 15% on Aug. 7. Auto duties remained unchanged at 27.5% until Tuesday's announcement.
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