Trump signed an executive order to reduce the tariff on Japanese automobiles to 15%

US President Trump signed an executive order to implement the lower tariffs on Japanese car imports and other products announced in July.

AFP reported that according to the executive order text released by the White House on Thursday (September 4th), the tariff on imported cars in Japan will be reduced from the current 27.5% to 15%, and the tariffs on many other Japanese goods will also be limited to 15%.

Reuters reported that the lower tariffs on Japanese automobiles will take effect seven days after the issuance of the executive order, and some tariff reductions will be retroactive to August 7.

Trump's executive order stated that Japan is "committed to accelerating the implementation of increasing its purchase of US rice by 75% and buying US agricultural products such as corn, soybeans, fertilizers, bioethanol (including an alternative to sustainable aviation fuel), and other US products, totaling 8 billion US dollars annually."

The executive order also reaffirmed that the Japanese government has agreed to invest 550 billion US dollars in the United States for projects selected by the US government.

The Japanese government declined to comment on the report.

The United States agreed in July to lower tariffs on Japanese car imports, but as Trump did not sign the executive order, the specific effective time is unclear. Japan's chief trade negotiator, Ryo Akasawa, flew to Washington on Thursday, demanding that the United States issue this executive order.

Trump's imposition of tariffs on global automobiles in August dealt a heavy blow to Japanese automakers. Last month, Toyota predicted that Trump's imposition of tariffs on imported cars would cost it nearly 10 billion US dollars.