The U.S. will lower tariffs on Japanese cars and auto parts by 16 September under a trade deal formalised by President Donald Trump, Japan’s chief negotiator said Tuesday.
Japan’s tariff negotiator Ryosei Akazawa announced that revised U.S. tariff rates on Japanese goods, including autos, will take effect within a week of their 9 September publication in the Federal Register.
The move follows Trump’s executive order on the U.S.-Japan trade agreement signed in July, which cut tariffs to 15% in exchange for a $550 billion package of Japanese investments and loans for U.S. projects.
Akazawa said the order brought clarity on implementation but stressed that negotiations remain unfinished.
Key issues, including most-favoured-nation status for semiconductors and pharmaceuticals, were left out of the executive order.
While a joint statement last week promised Japan the lowest tariff rates on chips and pharmaceuticals under any U.S. trade deal, Tokyo continues to push for the pledge to be formalised.
On the $550 billion investment package, Akazawa noted that it will be up to Washington to decide which projects, such as Nippon Steel’s planned U.S. Steel acquisition or SoftBank Group initiatives will benefit.
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On Friday, Canada is set to announce the removal of numerous retaliatory tariffs on American goods as a goodwill gesture to re-energise trade talks with Washington, a source told reporters.
The European Union is pushing for U.S. tariff cuts on European cars to take effect retroactively, as both sides released details of their July trade framework deal aimed at easing transatlantic trade tensions.
U.S. and Chinese trade officials plan to meet again in the coming months to discuss their economic relationship, as the two countries extended a tariff truce for 90 days.
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AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
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Chinese President Xi Jinping has described economic globalisation as an “irresistible trend of history,” emphasising the importance of multilateralism amid tariffs imposed by U.S. President Donald Trump.
European stock markets closed Monday with gains as investors focused on a confidence vote in the French parliament.
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