Japan has agreed to let U.S. President Donald Trump decide where $550 billion of Japanese capital will be invested in the United States as part of a trade deal to secure tariff relief, according to a memorandum signed this week.
The agreement, enacted Thursday, requires Japan to fund projects selected by Trump within 45 days or face the return of steep tariffs. Japan had been subject to a 25% levy on exports to the U.S., which is now reduced to 15%.
The memorandum states that profits from the investments will be split evenly until Japan’s principal is repaid, after which the U.S. will take 90% of the returns.
The deal marks the latest step in Trump’s push to reshape global trade under his “America First” agenda. In recent months, his administration has secured revenue-sharing arrangements with U.S. chipmakers over sales in China and taken a golden share in U.S. Steel following its $15 billion takeover by Japan’s Nippon Steel.
The new tariff framework also lowers duties on Japanese cars and car parts from 27.5% to 15%. A U.S. investment committee chaired by Commerce Secretary Howard Lutnick will propose projects for Trump’s approval, with an aim to use Japanese suppliers where possible.
Economists said the arrangement could eventually support Japanese exports, depending on procurement levels.
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Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
A war of words has erupted between Italy’s Prime Minister Giorgia Meloni and Donald Trump after the U.S. President told Italian media that Meloni “begged” to take a photograph with him at the G7 summit earlier this week.
More than 30 people have died since early May in a displacement camp in northeastern Democratic Republic of the Congo, raising fears that Ebola may be spreading undetected amid severe overcrowding and poor sanitation, according to camp officials and aid workers.
The Caspian Sea has retreated by up to 35 kilometres along Kazakhstan's coastline since 2006, raising fresh concerns about the future of the world's largest inland body of water and the communities, industries and ecosystems that depend on it.
Donald Trump has said the U.S. will resume bombing Iran if Tehran doesn't "behave," at the sidelines of the G7 summit in France. Earlier, the U.S. President criticised Israel for its tactics against Hezbollah, saying it was unnecessary to bomb entire apartment buildings to tackle militants.
U.S. President Donald Trump sought a deal with Iran "out of deperation," Iranian Supreme Leader Mojtaba Khamenei has said, in a statement on social media. Khamenei added that he himself "held a different view," to Trump, but allowed the agreement after receiving assurances from Iran's President.
Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
Jorge Messi, the father of football star Lionel Messi, is under medical supervision and is "progressing favourably" while recovering from an undisclosed health condition, according to a family statement.
European Union leaders agreed on Thursday to extend sanctions against Russia over its ongoing war in Ukraine for a further 12 months, marking the first time the restrictive measures have been renewed on an annual basis rather than the previous six-month cycle.
Abu Dhabi is increasingly looking to China for the technology it needs to build a greener economy, with its energy chief saying the partnership is advancing faster than many people realise.
China has opened its market to cashew nuts from all African countries with diplomatic relations with Beijing, removing a long-standing barrier that had restricted exports from much of the world's largest cashew-producing continent.
A war of words has erupted between Italy’s Prime Minister Giorgia Meloni and Donald Trump after the U.S. President told Italian media that Meloni “begged” to take a photograph with him at the G7 summit earlier this week.
More than 30 people have died since early May in a displacement camp in northeastern Democratic Republic of the Congo, raising fears that Ebola may be spreading undetected amid severe overcrowding and poor sanitation, according to camp officials and aid workers.
Sri Lanka is experiencing one of its worst dengue fever outbreaks in recent years, with more than 44,000 cases and 28 deaths recorded since January, according to health officials. The surge in infections is placing significant pressure on public hospitals across the country.
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