US President Donald Trump signed an order on Thursday to lower tariffs on Japanese autos, as Washington moves to implement its trade pact negotiated with Tokyo.
Japanese autos will face a 15-per-cent tariff instead of the current 27.5 per cent, while the level for many other goods will similarly be capped at 15 per cent, according to the text of the executive order published by the White House.
The outcome marks a win for Japan, after Tokyo’s tariff envoy headed to Washington on Thursday to press Trump to sign the document for the changes — weeks after both sides announced their agreement.
While the two countries had initially unveiled a trade pact in late July, they appeared to diverge in its details.
When Trump in early August initially implemented higher tariffs on Japan — alongside dozens of economies, its 15 per cent rate was stacked on existing levels for many other products.
The situation prompted tariffs envoy Ryosei Akazawa to tell reporters that Washington was expected to revise the rule.
The modifications are to be made within seven days of the rule being published on the Federal Register.
