(Update 2) Japan, U.S. Strike Trade Deal with Tariff Rate at 15 Pct

   Tokyo, July 23 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba said Wednesday that his country and the United States have concluded a trade agreement setting the rate of the United States' so-called reciprocal tariff on imports of Japanese goods at 15 pct.
   The U.S. levy on automobile imports from Japan will be set at 15 pct, down from the 27.5 pct tariff currently in effect.
   Japan will expand imports of rice and other products from the United States, and will also provide up to 550 billion dollars, or about 80 trillion yen, in assistance to Japanese companies investing in the United States.
   Washington notified Tokyo on July 7 that it would impose a 25 pct reciprocal tariff on Japan on Aug. 1 if it could not reach a deal by then. Although the new tariff rate is lower than this, it is higher than the 10 pct basic rate currently imposed on the Asian country.
   Still, Ishiba told reporters at the prime minister's office in Tokyo that the new reciprocal tariff rate is "the lowest among countries with trade surpluses with the United States."

(2025/07/23-15:18)

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