Trump, European Union and Trade Deal
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Sohei Kamiya's Sanseitō Party won 14 seats in Japan's Upper House elections, appealing to young voters with a "Japanese first" platform focused on culture, birth rates and food security.
Analysts at Bank of America said that the Japan deal "looks like a reasonable blueprint" for other auto-exporting countries like South Korea.
When President Donald Trump revealed that his administration had struck a "massive" trade and investment deal with Japan, he described it as "completed"—but it must still pass the Japanese parliament, called the Diet, which is riven with political turmoil.
The 15% tariff would be lower than previously threatened but remains a high duty on America’s largest trading partner.
Japanese automakers express mixed feelings on the new Trump trade deal. While welcoming lower tariffs, concerns linger over market access and the deal's long-term impact.
President Donald Trump announced a trade agreement with Japan on Tuesday, making it the largest U.S. trade partner to broker an accord as the White House threatens to impose tariffs on dozens of countries within days.
U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports and spares Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans.
As President Donald Trump’s tariffs add to a sense of uncertainty in Japan, the Sanseito party and its leader Sohei Kamiya made gains on a “Japanese first” platform.