Japan-US Reach Auto Tariff Agreement
Japan and the United States have agreed to set Japanese auto tariffs at 15%. This agreement involves reducing additional tariffs on Japanese automobiles to 12.5%, down from a previously planned 25%, resulting in a total of 15%, including the original 2.5% rate.
- Country:
- Japan
The United States and Japan have reached a consensus on setting Japanese auto tariffs at a total rate of 15%, according to information from five reliable sources reported to Reuters.
Previously, the countries had planned to impose additional tariffs amounting to 25% on Japanese automobiles. However, this new agreement lowers that figure to 12.5%.
Thus, the overall tariff rate will stand at 15%, which includes the original 2.5% auto tariff rate, marking a significant trade policy development between the two nations.
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