Trump’s tariff deal offers scant relief for Japan automakers
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Japan's $550 billion investment package agreed in this week's U.S. tariff deal could help finance a Taiwanese firm building semiconductor plants in the U.S., Japan's top trade negotiator Ryosei Akazawa said on Saturday.
Asian shares were mixed on Monday, with Japanese markets dipping despite overall optimism in the market after the U.S. and EU reached a trade framework that includes a 15% tariff on most European goods.
After months of fraught negotiations with the United States, Japan clinched a deal just days before punitive tariffs were scheduled to take effect.
The deal imposes 15% tariffs on Japanese cars and other goods, one of the more favorable rates. While the start date and other basic elements are still unknown, Treasury Secretary Scott Bessent warned this week that the US would monitor implementation and bump the rate up to 25% if Trump isn’t satisfied.
The deal, which includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment, will bring welcome clarity for EU companies though many in Europe will see it as a poor outcome.