Trump announces Japan tariff deal
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The deal with Japan comes days ahead of the 1 August deadline, when 25% tariff rates on Japanese imports were due to take effect.
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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 stu
President Trump's new trade deal with Japan includes a 15% tariff on exports to the U.S., up from earlier rates. CBS News MoneyWatch correspondent Kelly O'Grady breaks down how this could impact major automakers.
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In comparison with the 25% tariff Trump slapped on Tokyo earlier this month, a 15% tariff seems like a big improvement.
Japan will import more rice from the United States but within the existing tariff-free quota, Prime Minister Shigeru Ishiba said on Wednesday, stressing Tokyo's success in protecting the agricultural sector in agreeing a bilateral trade deal.
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