Trump announces trade deals with three countries
Photo: Trump announces trade deals with three countries (Getty Images)
President Donald Trump has announced the signing of trade agreements with Japan, the Philippines, and Indonesia, according to Reuters and CNN.
According to the US president, the trade agreement with Japan will result in $550 billion in investments and a reciprocal 15% tariff.
Trump emphasized that Tokyo will launch, among other things, trade in cars, trucks, rice, and certain agricultural products.
"We will continue to always have a great relationship with the Country of Japan," Trump said.
Trump also stated that he had reached trade agreements with Indonesia and the Philippines. Both deals include 19% tariffs on goods imported from those countries, while American exports to them will remain duty-free.
The announcement came following his meeting with Philippine President Ferdinand Marcos at the White House.
"It was a beautiful visit, and we concluded our Trade Deal," Trump wrote on his social media platform.
Trump's tariff policy
On April 2, US President Donald Trump announced plans to impose tariffs on goods from all countries.
On April 9, he paused the tariffs for several nations, giving them 90 days to negotiate trade deals.
According to the Financial Times, Trump has recently toughened his demands in trade talks with the European Union, insisting on a minimum tariff of 15–20%.
