Trump Signs Executive Order, Officially Enacting US-Japan Trade Agreement

BlockBeats News, September 5th, the White House of the United States stated that President Trump signed an executive order to officially implement the U.S.-Japan trade agreement.

According to the U.S.-Japan trade agreement, the United States will impose a 15% base tariff on almost all Japanese imports, while providing separate industry-specific treatment for automobiles and auto parts, aerospace products, generic drugs, and natural resources that the United States cannot naturally obtain or produce domestically.

The Japanese government will work to expedite the implementation of the rice "minimum access" scheme, increasing the purchase of U.S. rice by 75%, and purchasing U.S. agricultural products including corn, soybeans, fertilizers, bioethanol (including bioethanol for sustainable aviation fuel), and other U.S. products, totaling up to $8 billion annually.

The Japanese government also aims to allow the sale of U.S.-made passenger cars in Japan that have obtained U.S. safety certification without additional testing. Additionally, Japan will purchase U.S.-made commercial aircraft as well as U.S. defense equipment. (FXStreet)