Trump signs an executive order to reduce duties on imports of Japanese cars to 15%
Photo: Donald Trump / EPA

President of the United States Donald Trump signed a decree to reduce duties on imports of Japanese cars and a number of other goods. About writes Reuters.

According to the document, the duty on Japanese cars will be reduced from 27.5% to 15% and will take effect seven days after the official publication.

This decision was the result of several months of negotiations and aims to reduce pressure on the Japanese auto industry, which was severely affected by previous US tariffs.

In addition, the decree guarantees that goods already subject to a 15% duty will not be additionally taxed. At the same time, the tariff will be adjusted to 15% for goods with lower import duties.

These relaxations will come into effect retroactively on August 7. Imports of airplanes and spare parts are also exempt from tariffs.

Japan, for its part, has promised to increase its purchases of American rice, corn, soybeans, and other agricultural products by $8 billion annually, as well as to buy 100 Boeing aircraft and more American military equipment.

Separately, an agreement was signed on an investment package worth $550 billion. Japan will invest this money in the United States by 2029 in key industries ranging from chips and metals to energy and pharmaceuticals.