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The US and Japan signed a new trade protocol, and Japan will significantly increase its procurement of American agricultural products.
On September 5, the White House stated that President Trump signed an executive order to officially implement the US-Japan trade agreement.
According to the US-Japan trade protocol, the United States will impose a 15% baseline tariff on nearly all Japanese imported products, while implementing separate industry-specific treatments for automobiles and auto parts, aerospace products, generic drugs, and natural resources that cannot be naturally obtained or produced in the United States.
The Japanese government will work to accelerate the implementation of the rice "minimum access" plan, increasing the procurement of American rice by 75%, and purchasing U.S. agricultural products, including corn, soybeans, fertilizers, bioethanol (including bioethanol for sustainable aviation fuel), and other American products, totaling 8 billion dollars per year.
The Japanese government is also committed to allowing the sale of passenger cars manufactured in the United States and certified for safety in the United States, without the need for additional testing. In addition, Japan will procure commercial aircraft manufactured in the United States as well as U.S. defense equipment.