Japan, Trump
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Tesla vehicles are lined up at a vehicle storage yard at an industrial port, on the day U.S. President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports, in Yokohama, near Tokyo, Japan, July 23, 2025. Japanese automakers breathed a sigh of relief after U.S. President Donald Trump finalized a trade agreement last week.
The U.S. and EU are close to reaching an agreement on a 15% tariff rate as part of a similar deal to the one agreed with Japan earlier this week, The Wall Street Journal reported Wednesday.
The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.