"Ryosei Akazawa, Japan's minister of economic revitalization, who has been steering trade talks with the US, made the announcement via an X post on Tuesday. In his post, Akazawa said that on Tuesday, September 16, the tariffs imposed by the US on Japan will be revised. He added that tariffs on automobiles and automotive parts from Japan will also be reduced."
"In July, President Donald Trump announced that goods from Japan would be subject to a 25% tariff. Later that month, he reduced tariffs on the country from 25% to 15%, saying this was because Japan would be investing $550 billion in the US. Trump reiterated this in an executive order in September. The order said that in return for the tariff reduction, Japan would provide American producers in sectors like aerospace, agriculture, food, energy, and automobiles with "breakthrough openings in market access.""
The United States will revise tariffs on goods from Japan on September 16, including reductions for automobiles and automotive parts. The current tariff rate for Japanese goods stands at 15% after a prior cut from 25%. The July reduction to 15% was tied to Japan committing $550 billion in investment in the US. An executive order framed the tariff reduction as linked to new market access for American producers across aerospace, agriculture, food, energy, and automobiles. A Japanese embassy representative in Singapore did not respond to a request for comment.
Read at Business Insider
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