Japan Deal Reduces Tariff on Cars
President Donald Trump reached a deal with Japan, which reduces 25% tariffs on cars to 15% -- including the 2.5% MFN rate -- with no quota on imports, according to a poster shared by a White House official on X, and a clarification about the details of the car arrangement from Japan's prime minister.
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That poster also says that for goods outside the sectoral tariffs, the 10% tariff will continue to apply, and it says that future Section 232 tariffs on semiconductor chips and pharmaceuticals will be set at 15% on Japanese goods. However, President Donald Trump's posting on social media says the reciprocal tariffs are set at 15%, and details on the poster on the amount of investment the U.S. will receive in the deal and the percentage profit that the U.S. will receive from those investigations differ from those announced by Trump on social media.
No official joint statement on the deal has been issued.