Trump signs order cutting Japan auto tariffs to 15%

Jiji Press, Philippine News Agency

The US side will also revise the way it applies the 15 percent reciprocal tariffs on Japanese products. (Pexels Photo)

WASHINGTON – United States President Donald Trump on Thursday signed an executive order to implement a tariff deal with Japan, featuring a plan to reduce the US tariffs on auto imports from Japan to 15 percent from 27.5 percent.

The US side will also revise the way it applies the 15 percent reciprocal tariffs on Japanese products.

Trump ordered Commerce Secretary Howard Lutnick to begin procedures within seven days to adjust the rates once the changes are published in the Federal Register.

Economic revitalization minister Ryosei Akazawa, who was responsible for Japan’s tariff negotiations with the US, indicated that the reduced auto tariffs may be implemented within the next two weeks.

The executive order also included a plan for Japan to work on expanding rice imports from the US by 75 percent within its current minimum access quota. (Jiji Press)