Overview

• The provisional U.S.–Japan deal fixes reciprocal tariffs at 15%, replacing planned higher duties and committing Tokyo to invest $550 billion in American projects.
• American automakers warn that the 15% tariff on Japanese imports puts domestic firms at a competitive disadvantage against existing 50% steel and aluminum and 25% parts levies.
• The European Commission says a negotiated solution with the U.S. is within reach after EU member states approved a €93 billion retaliation package set to take effect on August 7.
• Under the “90 deals in 90 days” initiative, President Trump said most trade pacts will be finalized by August 1, with tariff-rate letters soon to be sent to nearly 200 countries.
• U.S. and EU negotiators are reported to be close to mirroring Japan’s 15% baseline framework, though Trump rates the odds of a deal at roughly 50-50 ahead of the deadline.