Trumpās tariff deal offers scant relief for Japan automakers
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Japan's $550 billion investment package agreed in this week's U.S. tariff deal could help finance a Taiwanese firm building semiconductor plants in the U.S., Japan's top trade negotiator Ryosei Akazawa said on Saturday.
White House Press Secretary Karoline Leavitt said, "Japan will now pay a 15% tariff versus the reciprocal rate of 24% that they initially had."
After months of fraught negotiations with the United States, Japan clinched a deal just days before punitive tariffs were scheduled to take effect.
Global stocks rose and the euro appreciated on Monday after a trade agreement between the United States and the EU lifted sentiment and provided some clarity in a week of key policy meetings by the Federal Reserve and the Bank of Japan.
Japan will invest $550 billion in the U.S. and allow the U.S. to tax Japanese goods sold in America at 15 percent.
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Asian shares were mixed on Monday, with Japanese markets dipping despite overall optimism in the market after the U.S. and EU reached a trade framework that includes a 15% tariff on most European goods.
TURNBERRY, Scotland, July 27 (Reuters) - The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade.
"The biggest piece in the trade deal puzzle still remains, and the Chinese are unlikely to be as willing to fold."