In an effort to help Japan’s export-driven economy, U.S. President Donald Trump signed an order Thursday to decrease duties on Japanese auto imports and other goods that were announced in July.
After months of discussions, the U.S. and a major Asian ally have finally formalized their agreement, which also confirms a $550 billion Japanese investment in U.S. projects and eases the uncertainty that has been weighing on Japan’s enormous car industry since the announcement in July.
The 15% taxes on Japanese automobiles, which are currently 27.5%, will go into force seven days after the decree is formally published.
