Washington: The trade plan to reduce tariffs on goods and services imported from Japan to 15 percent was announced today by U.S. President Donald Trump. Trump claimed through social media that this trade agreement will create thousands of jobs in America.
While providing information about this trade plan, Trump wrote that in the coming years, Japan will invest 550 billion dollars in America. Additionally, the American automotive sector and rice crop will be given access to the Japanese market. In return, the import duty on Japanese goods will be reduced from 25 percent to 15 percent.
This trade agreement will come into effect from August, said Trump. Other terms and issues of the agreement have not yet been announced. Experts have stated that by announcing this agreement, Trump is trying to create an image of himself as a 'problem solver'.
Tokyo: Japan's Prime Minister Shigeru Ishiba has clarified today that he will decide on resignation only after thoroughly studying the new trade agreement between the United States and Japan. Ishiba's party was defeated in the recent election.
There is growing demand for Ishiba to resign as his Liberal Democratic Party has lost its majority in parliament, meaning he does not have full control over the government. Since the party has lost its majority in both houses, implementing any policy will be difficult for them. This has led to political instability in Japan.
