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.
On July 24, 2025, US Treasury Secretary Scott Bessent issued a clear warning on Fox News: If Japan fails to fulfill the newly reached trade agreement as required by the US, the US tariff rate on Japanese goods will be raised from the current 15% back to 25%.
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