U.S. tariffs on Japanese goods, including automobiles and auto parts, will be lowered by September 16, Japan’s tariff negotiator Ryosei Akazawa confirmed Tuesday, citing a Federal Register document that formalized President Donald Trump‘s executive order.
Executive Order Formalizes July Trade Agreement
The revised tariff rates on Japanese goods will take effect within seven days of publication, according to a statement from Akazawa’s press conference, as reported by Reuters. The announcement resolves uncertainty over implementation timing for the landmark trade deal struck between Washington and Tokyo in July.
Under the agreement, the U.S. will reduce tariffs to 15% on Japanese goods, including autos, down from the current 27.5% rate. This significant reduction comes in exchange for Japan’s $550 billion package of U.S.-bound …