Washington, D.C.: Following U.S. President Donald Trump’s announcement of retaliatory tariffs, several nations have initiated trade negotiations with the United States. Among them, Japan has become the first country to formalize a major bilateral agreement with the U.S.
As per the newly signed deal, Japan will invest $550 billion in the American economy. In return, President Trump has approved the imposition of 15% tariffs. The U.S. President stated that the agreement is expected to create millions of jobs and deliver up to 90% of the benefits to the United States.
“This entire deal was executed under my direction,” Trump said, asserting that he played a key role in the negotiation process and led the discussions personally.
With the signing of the agreement, existing trade barriers between the two nations are set to be removed. The United States will begin importing a wide range of Japanese goods, including automobiles, trucks, rice, and other agricultural products. Trump noted that the deal would boost demand for Japanese products within the American market.
Additionally, Japan has agreed to the 15% tariffs proposed by the U.S. administration. Trump reiterated that it was based on his recommendations that Japan committed to the \$550 billion investment, highlighting his administration’s proactive approach in securing the deal.