President Trump announced a massive trade agreement with Japan, calling it “perhaps the largest Deal ever made.”
Japan will invest $550 billion in the US and face 15% tariffs on imports while opening its markets to American automobiles and agricultural products. The yen initially rose on the news.
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Trump also reached a trade agreement with the Philippines, his fourth such deal following the UK, Vietnam, and Indonesia. The US will impose 19% reciprocal tariffs on Filipino goods (reduced from a threatened 20%), while the Philippines will eliminate all tariffs and fully open its markets to American imports, highlighting US negotiating dominance.
This is a developing story.