ANALYSIS
The US has reduced tariffs on Japan’s exports and has entered into a trade agreement with it.
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US President Donald Trump has accepted that he has lost India, but he still is not admitting his mistake. But in the case of Japan, Trump has backed out of his wrong step. Why does Trump not want to lose Japan? What is Trump’s compulsion behind this?
Which mistake has Trump corrected regarding Japan? The US has reduced tariffs on Japan’s exports and has entered into a trade agreement with it. Under this agreement, the US has reduced tariffs on Japan to 15 per cent. In return, Japan has promised to invest USD 550 billion in US. Also, Japan will buy 100 Boeing planes from US, import 75 per cent more rice from US and buy agricultural products worth USD 8 billion.
Earlier, US had imposed a 25 per cent tariff on Japanese products. A 27.5 per cent tariff was imposed on Japanese cars. Due to the high tariff, a huge drop was recorded in Japan’s car exports to US. This created a stir in Japan’s auto market. Japan’s economy is highly dependent on exports, and the US is its biggest market for exports. Due to this, speculations began to be made that Japan migh
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