00:00United States President Donald Trump has signed an order lowering tariffs on Japanese car imports
00:05and other goods after months of negotiations with Tokyo.
00:10Japanese autos will now face a 15% tariff instead of the current 27.5%.
00:16The changes are part of Washington's trade pact with Tokyo, first announced in late July.
00:22The deal also confirms US$550 billion in Japanese investment for US projects.
00:30Products with lower tariffs will now face the 15% rate, retroactive to early August, although aircraft and parts are exempt.
00:39The agreement is a relief for Japan's auto industry, which employs about 8% of the country's workforce.
00:46Toyota alone estimated nearly US$10 billion in losses from the tariffs.
00:52Meanwhile, South Korea is watching closely with its own deal expected soon.
00:56An agreement with Washington would cut tariffs on Hyundai and Kia imports from 25% to 15%.
01:03Markets reacted cautiously, with Japanese automaker stocks age higher, while South Korean shares slipped slightly.
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