The reduction to 15% from the previous 25% was agreed between the two sides on July 22. "Tariff negotiations between Japan and the United States was the top priority for the government and we have put all our effort into achieving an agreement in a best possible way as soon as possible," Ishiba said Friday. "The way it was achieved ... is just excellent."
European Union trade commissioner Maros Sefcovic on Thursday presented a joint EU-US statement outlining a framework trade deal under which some 70% of EU exports face a 15% tariff. "This is a serious, strategic deal, and we are fully behind it. A wide range of sectors, including strategic industries such as cars, pharmaceuticals, semiconductors, and lumber, stand to benefit," Sefcovic told a press conference in Brussels.
Lucid Group Inc. stock has sharply declined to $2.18, marking a drop of 28%, while the S&P 500 has increased by 8%. Over five years, its market cap has plummeted nearly 80% to $6.7 billion, reflecting the struggles of small companies in the challenging U.S. electric vehicle sector, which has seen EV sales decrease by 6.3% this quarter.
SK On's research and development chief Park Kisoo expressed optimism about solid-state batteries, stating, 'When the world of solid-state batteries arrives, it will definitely be first applied in pouch-type cells in which we already have a technological edge.' He emphasized this could be a critical tool to compete against Chinese battery manufacturers.
"The good news is a hydrogen vehicle is an electric vehicle. It's just a different way of storing the energy versus a battery... refuel in 3 to 4 minutes and you're 100% full and ready to go again."