△ President Trump of the United States (Photo)
On July 22nd, local time, President Donald Trump announced via social media that the United States and Japan have reached a trade agreement: with a tariff rate of 15% on Japan and $550 billion in Japanese investment in the US.
In a post on his social media platform “Reality Social,” Trump stated that the United States had just reached an “enormous” agreement with Japan, potentially the largest ever.
He mentioned that, as per his instructions, Japan will invest $550 billion in the US, with the US receiving 90% of the profits. This agreement is expected to create tens of thousands of jobs.
Trump also mentioned that perhaps most importantly, Japan will open its market for trade, including automobiles, trucks, rice, and other parts of agricultural products and goods. Japan will pay the US a counter-tariff rate of 15%.
As of now, there has been no response from Japan. (Liu Xiaoqian)
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