President Trump slashed tariffs on Japanese cars Thursday in a sweeping trade deal that opens Tokyo’s markets to US rice and farm goods while pledging hundreds of billions in new Japanese investment on American soil.
The executive order cuts levies on Japanese auto imports from 27.5% to 15%, easing pressure on motor giants Toyota, Honda and Nissan and formalizing an agreement first unveiled in July.
The White House said the deal also compels Tokyo to pour $550 billion into US projects while pledging to buy at least $8 billion worth of American goods every year. 4
“This is a massive agreement — a great deal for everybody,” Trump boasted when the pact was first announced.
“I always say it has to be great for everybody. It’s a great deal.”
The order caps months of tense negotiatio