US President Donald Trump signed the fifth decree to reduce duties in Japanese cars as part of Washington’s attempt to implement the trade agreement with Tokyo. According to the text of the executive decree published by the White House, Japanese cars will be subject to a 15%duty instead of the current 27.5%, while the duty level for many other products will also be reduced to 15%. The result is a victory for Japan, following the Japanese envoy to Washington’s Japanese envoy on Thursday to persuade Trump to sign the document for the changes – weeks after the two sides had announced their agreement. Although the two countries had initially presented the trade agreement at the end of July, there were differences in its details. When Trump, in early August, initially imposed higher duties on Japan – along with dozens of other economies – the new 15% duty was added to the existing ones […]
Source: News Beast
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