Catenaa, Wednesday, July 23, 2025- US President Trump said on Tuesday that the US and Japan had reached a trade deal that includes a 15% tariff on goods from Japan.
“We just completed a massive Deal with Japan, perhaps the largest Deal ever made,” Trump wrote in a Truth Social post. The president said the agreement includes a 15% tariff on imported goods from Japan, and the country will invest $550 billion into the US.
Earlier on Tuesday, Trump said the US had also struck a trade deal with the Philippines, which will see the country’s imports face a 19% tariff in the US. Trump said US exports will face no import tax in the Philippines as part of the deal.
The deal developments come as prospects for larger pacts with India and the European Union have soured. An interim deal between the US and India before an August 1 deadline looks increasingly unlikely, according to Reuters. Talks remain deadlocked due to disagreements on key agricultural and dairy products.
Meanwhile, the European Union still wants a trade pact with the US, but the bloc is said to be readying its counterattack as Trump plays hardball and makes a no-deal outcome more likely.
EU member states are pushing for new and stringent measures to retaliate against US companies, The Wall Street Journal reported, while its officials are meeting this week to draw up a plan for reprisals.
“If they want war, they will get war,” a German official told the WSJ.
Trump is reportedly pushing for higher blanket tariffs on imports from the EU, throwing a wrench in negotiations ahead of an August 1 deadline for sweeping duties to take effect. He has threatened 30% tariffs on all imports.
Treasury Secretary Scott Bessent on Tuesday said he expected many deals to take shape over the next several days.
