The president of the United States, Donald Trump, signed an order on Thursday to implement lower tariffs in imports of Japanese cars and other products that were announced in July.
The lowest rates on the cars will enter into force seven days after the order is published. Part of the tariff relief is retroactive until August 7.
Trump’s order also means that a reduced American tariff rate in Japanese cars, from 27.5% to current 15%, is established in force by the end of this month, Reuters reported previously, citing a source of the Japanese government.
Trump’s order says that Japan is “working towards an accelerated implementation of an increase of 75% of the United States rice acquisitions … and purchases of agricultural goods in the United States, including corn, soybeans, fertilizers, bioethanol (even for sustainable aviation fuel)” and other US products for a total of $ 8 billion per year.
He also reiterates that the Japanese government agreed to invest $ 550 billion in the United States in projects that will be selected by the United States government.
