Cost of Japan’s tariff deal with the US
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Asian shares rose Thursday, buoyed by optimism that the U.S.-Japan tariff agreement will be followed by more trade deals. Japan’s Nikkei 225 surged nearly 2% to 41,983.50. The Shanghai Composite Index added 0.
But I just signed the largest trade deal in history, I think maybe the largest deal in history with Japan.”The deal sees a 15% tariff on the country’s exports to the U.S., including cars.They had previously faced a 25% levy.
Shares of General Motors , Ford Motor , and Jeep-maker Stellantis , some of the biggest automakers in the U.S., rallied on Wednesday after news of a trade deal that will reduce tariffs on imported Japanese cars,
Japanese Prime Minister Shigeru Ishiba, under growing pressure to step down over the historic loss of his ruling party in a weekend election, says he will decide on whether to resign after closely studying the tariff deal just struck with the United States.