Trump’s Japan Trade Deal
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US lowers Japan tariff to 15% for $550bn investment pledgeThe deal with Japan comes days ahead of the 1 August deadline, when 25% tariff rates on Japanese imports were due to take effect.
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Japanese Prime Minister Shigeru Ishiba denied reports he plans to announce his resignation over a historic defeat of his ruling party in a weekend election.
President Trump's new trade deal with Japan includes a 15% tariff on exports to the U.S., up from earlier rates. CBS News MoneyWatch correspondent Kelly O'Grady breaks down how this could impact major automakers.
The European Union and Japan will work more closely to counter economic coercion and address unfair trade practices, European Commission President Ursula von der Leyen told reporters on Wednesday. Von der Leyen's comments came after an EU-Japan summit with Japanese Prime Minister Shigeru Ishiba as the EU struggles to conclude a trade deal with the United States and a day before potentially tough meetings with Chinese leaders.
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