Trump Announces Trade Deals with Japan and Philippines
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BTCCSquare news:
Former President Donald TRUMP has secured trade agreements with Japan and the Philippines, marking a significant shift in U.S. trade policy. Japan will invest $550 billion in the U.S. while accepting 15% tariffs on its imports. In return, Japan will open its markets to American automobiles and agricultural products. The yen initially rose on the news, reflecting market optimism.
Separately, the Philippines has agreed to eliminate all tariffs on U.S. imports, granting American goods full market access. The U.S. will impose 19% reciprocal tariffs on Filipino products, slightly reduced from an earlier threat of 20%. This deal follows similar agreements with the UK, Vietnam, and Indonesia, underscoring the U.S.'s assertive trade stance.
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