FX.co ★ Trump Signs Order to Enact Lower Tariffs on Japanese Auto Imports

President Donald Trump of the United States has enacted an order formalizing the reduction of tariffs on Japanese automobile imports and other goods, initially disclosed in July, as reported by Reuters. This move signifies the culmination of extensive negotiations between the United States and Japan. It not only alleviates uncertainty for Japan’s significant automotive industry but also reinforces a pledge of $550 billion in Japanese investments in U.S. projects. The newly reduced tariffs on Japanese automobiles are scheduled to be implemented seven days from the order's official publication, with certain benefits applied retroactively to August 7. According to a source within the Japanese government cited by Reuters, the U.S. tariff rate on Japanese vehicles will decrease from the present 27.5% to 15% by the end of the month.