Japan Says Trade Deal with U.S. to Be Enforced in Two Weeks

(MENAFN) Japan’s chief tariff negotiator Ryosei Akazawa announced on Friday that the recently finalized trade agreement between Japan and the United States will be implemented within the next two weeks, according to media.

This follows US President Donald Trump’s executive order on Thursday, enacting a comprehensive trade deal with Japan. The agreement sets a baseline 15% tariff on nearly all Japanese imports, including automobiles, a reduction from the previous 27.5% tariff rate.

The pact also unlocks what the White House described as a historic investment agreement, involving $550 billion in Japanese investments across US projects, signaling a significant boost in bilateral economic ties.

A new Japan-US advisory panel will be established under the deal to oversee and consult on these investment initiatives.

Trump had unveiled the framework of the agreement in July, calling it “perhaps the largest deal ever made” on his Truth Social platform.

As part of the deal, Japan has pledged to sharply increase purchases of US agricultural goods such as corn, soybeans, and rice, totaling about $8 billion.

Additionally, Tokyo has committed to importing US-made commercial aircraft and defense equipment, while easing restrictions on American cars that comply with US safety regulations.

Akazawa also personally delivered a letter from Japanese Prime Minister Shigeru Ishiba inviting Trump to visit Japan.

Following these developments, Ishiba highlighted the critical need for the agreement to be implemented both steadily and swiftly. He expressed confidence that the deal would bolster the Japan-U.S. alliance, enhance economic security, and drive the nation’s economic growth.

Ishiba clarified that the tariff deal is “unrelated” to the potential snap leadership election within the ruling Liberal Democratic Party after its loss of majority in the House of Councilors election last July. Despite calls for his resignation, Ishiba stated earlier that he intends to remain as prime minister, citing his handling of US tariffs as a key factor.

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