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U.S. Secures 15% Tariff Deal With Japan as EU Prepares €93 Billion Retaliatory Tariffs

The EU is pressing ahead on €93 billion in counter-duties to leverage negotiations for a zero-for-zero tariff swap before Trump’s August 1 deadline.

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An der Vorderseite des chinesischen Handelsministeriums steht an einer Mauer in chinesischen Schriftzeichen "Handelsministerium der Volksrepublik China".
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Overview

  • President Trump announced that the U.S. and Japan will impose reciprocal 15 percent tariffs on each other’s goods starting August 1, down from the previously threatened 25 percent auto levies.
  • Trump said Japan will channel $550 billion in investments into the United States under the agreement, with 90 percent of returns to remain in the U.S.
  • The European Commission has suspended its initial €21 billion retaliation package until August 6 and will vote on a second €72 billion list of counter-tariffs this Thursday.
  • EU Trade Commissioner Maroš Šefčovič is holding emergency discussions with U.S. Trade Minister Howard Lutnick to secure a zero-for-zero industrial tariff arrangement before the August 1 implementation date.
  • Brussels is keeping its Anti-Coercion Instrument in reserve as a “nuclear option” and still faces threats from China over its inclusion of Chinese firms in the EU’s 18th sanctions package on Russia.