Japanese Tariff Negotiation Representative Arrives in the United States to Discuss Reducing Auto Tariffs

BlockBeats News, August 6th. According to Kyodo News, Japanese Minister of Economic Revitalization Ryosei Akazawa arrived in Washington on Tuesday night and will ask U.S. government officials to promptly implement the agreement to reduce tariffs on Japanese automobiles and auto parts. Two weeks ago, Akazawa and U.S. President Trump reached a trade agreement, under which the U.S. promised to reduce the so-called retaliatory tariffs on Japanese goods from 25% to 15%.

At that time, Trump also agreed to reduce Japan's auto tariffs to 15% in exchange for Japan's commitment to large-scale investment in the U.S. However, unlike tariffs on specific countries, it is currently unclear when the Trump administration plans to implement the reduced auto tariffs.