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's decision to recognise the so-called Armenian genocide has triggered diplomatic tensions with Azerbaijan, one of its closest strategic partners.
The remains of 10 victims of the 1995 Srebrenica genocide were carried to the Potočari Memorial Cemetery in eastern Bosnia and Herzegovina on Friday ahead of their burial during the 31st anniversary commemoration.
More than 100 countries now spend more on servicing debt than on education, UNESCO has warned, as it called on governments and international lenders to expand the use of debt-for-education swaps.
It has been a punishing week for large parts of China, and forecasters warn the worst may not be over. After Typhoon Maysak left a trail of destruction and at least 23 people dead, Super Typhoon Bavi is now threatening the country's eastern coast.
At least 12 people have been killed in forest fires in Almeria in southern Spain, Andalucía’s emergency agency has said, as firefighters continue efforts to put out the blaze.
U.S. President Donald Trump said Washington has agreed to resume talks with Iran after Tehran requested further negotiations, but declared that last month's ceasefire between the two countries was "over".
The U.S. military said on Wednesday it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, triggering Iranian attacks on Kuwait and Bahrain in the latest escalation to derail efforts to end the war.
Dozens of flights have been cancelled across East Asia as Super Typhoon Bavi approaches China. The typhoon, which has maximum sustained winds of 162 kph (100mph), is nearing a remote chain of Japanese islands, east of Taiwan on Friday.
A 26-year-old man arrested on suspicion of murdering British politician Ann Widdecombe has been released and is no longer part of the investigation, UK police have said.
Russia launched a barrage of ballistic missiles at Ukraine’s capital early on Saturday, injuring at least 10 people, officials said. The attack came as Kyiv faces a shortage of air defence munitions while awaiting fresh supplies to counter Russian strikes.
The remains of 10 victims of the 1995 Srebrenica genocide were carried to the Potočari Memorial Cemetery in eastern Bosnia and Herzegovina on Friday ahead of their burial during the 31st anniversary commemoration.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 11 July, covering the latest developments you need to know.
More than 100 countries now spend more on servicing debt than on education, UNESCO has warned, as it called on governments and international lenders to expand the use of debt-for-education swaps.
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