President Donald Trump has signed an executive order to officially enact the US-Japan trade agreement, the White House announced. The agreement institutes a baseline 15% tariff on most Japanese imports to the US. The executive order highlights Japan’s commitment to investing $550 billion in the United States. The initial framework of the deal, announced in July, is intended to foster a new era of trade relations based on reciprocity and shared national interests. The agreement provides sector-specific treatments for automobiles and parts, aerospace products, generic pharmaceuticals, and natural resources not available or produced domestically. Japan has also agreed to purchase US-made commercial aircraft and defense equipment, and is working toward increasing US rice procurements by 75% within the Minimum Access rice scheme. Japan will also purchase a total of $8 billion annually of US agricultural goods.
.jpeg "Featured Image")
