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.
More tariffs, more tension — President Donald Trump has triggered a sweeping new round of import duties, hitting 69 countries and pressurising major economies. The move comes as he celebrated his excitement on Truth Social late Wednesday about the billions of dollars expected to flow into the U.S.
A Turkish Air Force C-130 military cargo plane has crashed in Georgia near the border with Azerbaijan, killing all personnel on board.
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Georgian Interior Minister Geka Geladze has visited the site of the Turkish military helicopter crash in Sighnaghi Municipality, near the Georgia–Azerbaijan border.
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Türkiye’s benchmark BIST 100 index ended Thursday up 0.94%, closing at 11,073.27 points. Opening the day at 11,029.29, the index gained 102.9 points compared with the previous close.
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