US announces trade deals with Japan and the Philippines
Tariffs ‘reduced’ to 15% for Japan and 19% for the Philippines, following a deal with Indonesia earlier in the week.
US and Japan have reached a bilateral trade deal that will reduce tariffs on Japanese exports to the US market to 15%, including automobiles and car parts, which account for 32% of all Japan’s exports to the US in 2024; Japan was previously facing a 25% levy on auto and auto parts from Donald Trump’s administration.
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