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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Some tariffs on foods and other imports from Argentina, Ecuador, Guatemala, and El Salvador will be removed under framework agreements that give U.S. firms greater market access, the United States said on Thursday.
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.
U.S. President Donald Trump has ruled out ordering a mission to capture Russian President Vladimir Putin, saying he is confident the war in Ukraine can be brought to an end.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Bob Weir, the rhythm guitarist, songwriter and co-founder of the Grateful Dead, has died at the age of 78, his family has said.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
China, Russia and Iran have begun a week-long joint naval exercise in South African waters, a move that comes amid strained relations between Washington and several members of the expanded BRICS bloc.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
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