Lower U.S. tariffs secured by Japan during its recent trade talks with the White House will kick in by Sept. 16, Japan’s tariff negotiator Ryosei Akazawa said on Tuesday.
Citing a U.S. Federal Register notice dated Sept. 9 that formalized President Donald Trump’s executive order, Akazawa said the revised tariff rates will take effect within seven days of the notice’s publication.
In July, both sides agreed to a deal in which Trump agreed to lower his reciprocal tariffs on Japan to a baseline of 15 percent.
Japan agreed to open its markets to American companies with previously limited access, and buy U.S.-made commercial aircraft and defense equipment. Japan also committed to increasing U.S. rice imports by 75 percent, and purchasing $8 billion in U.S. agricultural and other products, including soybeans, fertiliser, and bioethanol, each year….