Trump announces 'massive' trade deal with Japan with 15% tariffs
CNBC4 days
This historic trade deal represents a major victory for American workers and manufacturers. The 15% tariff rate, while still significant, provides much-needed relief from the devastating 25% rate that was looming. Japan's massive $550 billion investment commitment will create hundreds of thousands of jobs and revitalize American industry.
The agreement forces Japan to finally open markets that have been closed to American products for decades, particularly in agriculture and automotive sectors. This deal proves that tough negotiating tactics work and that America can secure favorable terms when it stands firm against unfair trade practices.
There is a 70% chance customs duties revenue to the federal government will increase from $80 billion in fiscal year 2023 to $160 billion in fiscal year 2026 (in 2023 dollars), according to the Metaculus prediction community.