Japan, Tariff Rate
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It is the most significant of a clutch of agreements Trump has bagged since unveiling sweeping global levies in April, though like other deals, exact details remained unclear.
Who pays for these tariffs? Most economists reckon that ordinary Americans will lose out, as prices in shops rise. Mr Trump and his coterie, by contrast, blithely insist that the rest of the world will shoulder the load by cutting their selling prices. So far, the evidence is giving the know-nothings a glimmer of hope.
President Donald Trump is set to meet with European Commission chief Ursula von der Leyen in Scotland to discuss trade. Both sides are seeking an agreement on tariff rates.
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President Trump last week touted a $550 billion investment in the US that Japan made as part of trade negotiations "to lower their tariffs a little bit," as he described it. On Saturday, Japanese trade negotiator Ryosei Akazawa suggested the money could be used to help finance a Taiwanese chipmaker building plants in the US,
He’s a wheeler-dealer, our president, needless to say, and he’s kind of cutting these deals — but he has scared these people, and he’s leveraged American bargaining
US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along.
On any list of central bankers dying to get off this crazy thing called 2025, Japan’s Kazuo Ueda deserves a spot at the very top.