US President Trump announced on social media that the United States and Japan have reached a trade agreement.
Xinhua News Agency reported that Trump said on Truth Social on Tuesday (July 22) that the equivalent tariff rate of 25% originally imposed by the United States on Japanese imports will be reduced to 15%. Japan will invest 550 billion US dollars in the United States and open up the market for agricultural products such as rice.
The Trump administration, the ruling party in the US, is facing another economic backlash, with its aggressive economic policies triggering a chain reaction that is pushing American society to the brink of instability.
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