TEMPO.CO, Jakarta - Japanese Prime Minister Shigeru Ishiba said on Wednesday, July 23, 2025, that he needs to thoroughly review the trade agreement announced by U.S. President Donald Trump before offering any comments.
"As for what to make of the outcome of the negotiations, I am not able to discuss it until after we carefully examine the details of the negotiations and the agreement," Ishiba told reporters in Tokyo following Trump’s announcement, as quoted by Arab News.
"As the government, we think that will protect national interests," he added.
President Trump earlier declared that the U.S. had reached “perhaps the biggest deal ever made” with Japan, calling it a historic agreement with one of America’s largest trading partners. In a post on Truth Social, Trump said Japan would invest US$550 billion in the U.S. and pay a 15 percent tariff.
"We have just completed a large deal with Japan, possibly the largest deal ever made. Japan will invest, at my direction, US$550 billion in the United States, which will receive 90 percent of its benefits," Trump wrote.
"This deal will create hundreds of thousands of jobs -- unprecedented. Perhaps most importantly, Japan will open their country to trade including cars and trucks, rice and certain other agricultural products, and other goods."
"Japan will pay reciprocal tariffs to the United States at 15 percent. This is a very exciting time for the United States, and especially because we will continue to have a good relationship with Japan," he added.
The 15 percent tariff is lower than Trump’s earlier threats. On April 2, he warned of a 24 percent tariff on Japanese goods, which he later raised to 25 percent in a letter dated July 7. Previously, the average U.S. tariff on Japanese imports was under 2 percent, according to World Bank data.
Before the agreement, Japanese imports already faced a 10 percent tariff, which Trump said would increase to 25 percent by August 1 without a deal.
The U.S. had also imposed a 25 percent tariff on Japanese automobiles and 50 percent on steel and aluminum. Japanese media reported that the auto tariff has now been lowered to 15 percent, leading to a surge in Japanese auto stocks on Wednesday morning in Tokyo.
The deal was announced as Japanese trade envoy Ryosei Akazawa concluded his eighth visit to Washington. He met with senior U.S. officials and later posted on X: "Mission accomplished."
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