On Thursday (August 7), the US government promised Japan to change the presidential executive order to remove the combination of duties on some Japanese products. This was announced by Japan’s chief negotiator Rjosei Akazawa after negotiations in Washington. TASR reports this based on Reuters report.
Akazawa urged American trade minister to Howard Lutnick and finance Minister Scott Bessent to ensure that the customs rate of 15 % on Japanese imports on which both countries agreed last month will not be combined with goods such as beef meat to which higher duties are subject.
They return duties
The US promised to change the presidential order from 31 July, which contained a provision on a ban on the combination of duties for the European Union, but not for Japan. They will also return to Japan selected higher duties, said Akazawa.
At the same time, Lutnick and Bessent said Trump would reduce car duties from Japan from 27.5 % to 15 % in a separate executive command, in accordance with the Commercial Agreement. Japan is one of the eight US main business partners who have reached the Washington Framework Agreement.
The US started to collect higher duties on August 7 for imports from tens of countries, including 50 % duties for imports from Brazil, 39 % to import from Switzerland and 35 % to import from Canada. A large part of what Akazawa agreed in July during his previous visit to Washington has never been signed. This caused confusion and concern in Tokyo that some Japanese companies could face higher duties than expected.
Criticized for the non -drafting of the agreement
Prime Minister Šigero Išiba was criticized by his opponents for not having elaborated a joint statement with Trump. Ishiba said he decided not to do so to accelerate the implementation of the agreement.
In an effort to reach an agreement, the Japanese Prime Minister agreed to increase US investments by up to $ 550 billion (€ 472.75 billion) through the government of supported loans and guarantees for projects that benefit both countries. Trump later said that Washington can invest these funds at his own discretion. Akazawa refused to say whether he discussed the investment promise with Lutnick and Bessent.
Japan “will continue to maintain close communication with the US party at different levels,” the government added.
