Japan and U.S. Reach Tariff Deal in ‘Massive’ Trade Agreement

In a surprise move announced July 22, President Trump declared a “massive” trade framework with Japan.

Transcript

00:00In a surprise move announced July 22nd, President Donald Trump declared a new trade framework

00:05with Japan, pledging that U.S. importers will face a 15 percent reciprocal tariff on Japanese

00:11exports and securing $550 billion in Japanese investment into the U.S.

00:17The agreement aims to foster expanded market access for U.S. cars, rice and other agricultural

00:23goods.

00:24While Japan will continue its longstanding dominance as a major trading partner, responsible

00:29for more than $140 billion in U.S. imports last year.

00:33Despite the boldest claims yet, including from Trump, that the U.S. will receive 90 percent

00:38of the profits, no formal deal sheet has yet been made public, raising questions about

00:44enforcement.

00:45The announcement coincides with rising tensions and looming deadlines, as talks with other

00:49nations stall, and both U.S. and Japanese officials express cautious optimism about finding a durable

00:56agreement before tariffs jump on August 1st.