Trump’s Japan trade deal rattles U.S. automakers
Digest more
33mon MSN
President Donald Trump is bragging that Japan has given him, as part of a new trade framework, $550 billion to invest in the United States.
President Donald Trump announced a new trade framework with Japan, boasting a staggering USD 550 billion investment in the US. However, details remain under negotiation, and it's uncertain if this represents new or existing investments.
Japan said Saturday that the country’s newly announced $550B investment package could be used to help finance semiconductor plants in the US.
Trump’s so-called reciprocal tariffs are scheduled to go into effect on August 1 after a 90-day delay—just as American families begin back-to-school shopping—and could hike up the cost of consumer goods imported from other countries.
While 15% tariffs would be nothing to toast in normal times, it seems pretty good after Trump first threatened Japan with a 24% tariff rate.
Japan trade deal boosts Japanese equities and benefits Franklin FTSE Japan ETF, but faces issues with tariffs and market trends. Click for my FLJP update.
Japanese Prime Minister Shigeru Ishiba, under growing pressure to step down over the historic loss of his ruling party in a weekend election, says he will decide on whether to resign after closely studying the tariff deal just struck with the United States.
Trump will host Philippine President Ferdinand Marcos Jr. at the White House today. White House press secretary Karoline Leavitt said yesterday that the two leaders could discuss trade and the upcoming Aug. 1 tariff deadline.