Trump signed an executive order to lower tariffs on Japanese car imports, and Japan and the U.S. reached a major trade agreement.

Foreign media: US President Trump signed an executive order to reduce the import tariff on Japanese cars from 27.5% to 15%, easing pressure on automakers such as Toyota, Honda, and Nissan. This measure implements the agreement reached in July, with tariff benefits covering almost all Japanese exports to the US, including cars and pharmaceuticals.

As a trade-off, Japan has pledged to invest $550 billion in the US and gradually open its market, expanding access for American products, especially cars and rice. The agreement also requires Japan to purchase about $8 billion worth of American products annually and increase imports of American rice by 75%.

Trump called it a "major deal that benefits all parties." Cars account for about 20% of Japan's total exports, with the US being the largest market. Previously, Toyota warned that US tariffs would cost it about $1 billion. After the announcement, stock prices of Japanese car and parts companies rose.

Original article: www.toutiao.com/article/1842413490159683/

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