Overview
- Commerce Secretary Howard Lutnick said the United States will announce details this week on Japan’s $550 billion investment in the U.S.
- The July framework set a 15% tariff on Japanese goods in exchange for a large package of government-backed loans and guarantees, though specifics remain unclear.
- Japanese broadcaster FNN reported that top trade negotiator Ryosei Akazawa may travel to Washington as soon as this week to discuss a formal document.
- Nikkei reported that Tokyo seeks a document that is not strongly legally binding and plans to request a presidential order to cut tariffs on Japanese goods soon.
- U.S. officials previously clarified that Japanese goods are exempt from overlapping levies and said President Trump will issue another order to lower car tariffs to 15% from 27.5% without giving a timeline.