The American government has agreed on a new trade agreement with Japan. Most goods the USA imports from the country will be subject to tariffs of 15 percent, reports Bloomberg.
The announcement means, among other things, that the tariff on Japanese cars is reduced from 27.5 percent to just 15 percent.
At the same time, Japan has agreed to invest in American projects, by creating an investment fund of 550 billion dollars. The fund has been up for discussion during the negotiation process, and it is still unclear how it will be designed.
The agreement also includes Japanese purchases of, among other things, American agricultural products and defense equipment.
