Newscasts - Trump strikes trade deal with Japan, including 15% tariff

Subaru

23/07/2025 06:53

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Source: 'Reuters - General news videos'

Description: President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a lower 15% tariff that will be levied on U.S. imports from the country, including autos. Julian Satterthwaite reports.

Short Link: https://refini.tv/3GBRLZy

Video Transcript:

Donald Trump says he's struck another trade deal.

But I just signed the largest trade deal in history. I think maybe the largest deal in history with Japan.

The deal sees a 15% tariff on the country's exports to the US, including cars. They had previously faced a 25% levy. In a post on Truth Social, Trump said the deal would also see Japan invest $550 billion in the US. And he said it would secure access to the Japanese market for US products, including rice. One analyst said it was a better outcome than expected for Japan and would allow the country to avoid recession. In Tokyo, Prime Minister Shigeru Ishiba welcomed the deal. He said it marked the lowest rate set for countries that have a trade surplus with the US. And added it would not sacrifice Japanese agriculture, even if it did allow more access for US produce. It all marks the biggest agreement yet struck by Washington since the tariff turmoil began. Japan is America's fifth largest trading partner in goods, with two-way trade between the pair worth almost $230 billion last year. The news sent stocks higher in Tokyo on Wednesday, with the Nikkei index up around 3% by lunchtime. Automakers were among the top gainers, with Mazda and Subaru both surging more than 15%. Trump also flagged the possibility of more deals to come.

And we have Europe coming in tomorrow, and the next day, we have some other ones coming in.

Trump aides are now scrambling to do more deals before his August 1 deadline for agreements. However, the President has said that many countries will simply get letters telling them what their rate is.