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Report: U.S. Won’t Hike Tariffs on Japanese Cars
The U.S. reportedly has agreed not to impose new tariffs on cars from Japan as part of a tentative trade agreement slated to be announced next week.
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The U.S. has agreed not to impose new tariffs on cars from Japan as part of a trade agreement to be announced in tentative form next week, according to the Tokyo Shimbun.
The two countries agreed to the general elements of a pact last month. But Japan has been leery of signing any formal deal after President Donald Trump used that occasion to tell reporters he was reserving the possibility of raising tariffs anyway “at a later date if I wanted to.”
Reuters says Japan would ease restrictions on agricultural products from U.S. farmers. In exchange, the U.S. would agree to freeze import taxes on Japanese cars at the current 2.5%. rate.
The tentative pact is set to be endorsed by Trump and Japan Prime Minister Shinzo Abe on the sidelines of next week’s United Nations General Assembly in New York city.
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