President Trump on Tuesday announced a “massive deal” with Japan, securing the United States over half a trillion dollars in investment and opening Japan to U.S. automobiles, rice, and other agricultural products.
“Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits,” Trump said in a statement. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it.”
This comes after the President’s July 7 letter to Japanese Prime Minister Ishiba Shigeru threatening 25% tariffs starting on August 1 if they do not eliminate trade barriers or build and manufacture in the United States.
“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by. will be added onto the 25% that we charge,” Trump said.
“If you wish to open your heretofore closed Trading Markets to the United States, and eliminate your Tariff, and Non Tariff, Policies and Trade Barriers, we will, perhaps consider an adjustment to this letter. These Tariffs may be modified, upward or downward, depending on our relationship with your Country.”
This also comes after President Trump announced an investment by Japan’s Nippon Steel Corp. in U.S. Steel, saving the American steel juggernaut and its Pittsburgh, Pennsylvania headquarters in May. “This is the largest Investment in the History of the Commonwealth of Pennsylvania,” Trump previously announced.
Now, Trump says that he struck “perhaps the largest Deal ever made,” reducing Japan’s tariffs to a reciprocal rate of 15%.
No comments:
Post a Comment