Trump’s Japan trade deal rattles U.S. automakers
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Japan trade deal boosts Japanese equities and benefits Franklin FTSE Japan ETF, but faces issues with tariffs and market trends. Click for my FLJP update.
Trump’s so-called reciprocal tariffs are scheduled to go into effect on August 1 after a 90-day delay—just as American families begin back-to-school shopping—and could hike up the cost of consumer goods imported from other countries.
While 15% tariffs would be nothing to toast in normal times, it seems pretty good after Trump first threatened Japan with a 24% tariff rate.
Japanese Prime Minister Shigeru Ishiba, under growing pressure to step down over the historic loss of his ruling party in a weekend election, says he will decide on whether to resign after closely studying the tariff deal just struck with the United States.
Trump will host Philippine President Ferdinand Marcos Jr. at the White House today. White House press secretary Karoline Leavitt said yesterday that the two leaders could discuss trade and the upcoming Aug. 1 tariff deadline.
President Trump has announced a flurry of trade deals that will relieve some pressure on companies and consumers from sharply higher tariffs on imports from Japan and a handful of other Asian countries.