Trump is an agreement with Japan, nothing for Switzerland

Donald Trump et Shigeru IshibaImage: Keystone

Donald Trump and his Japanese counterpart have agreed on customs duties, especially in the automotive sector. While the surcharge of the American president came into force on August 1, an agreement with Switzerland is still waiting for him.

President Donald Trump announced the conclusion of a trade agreement with Japan, with significant reduction for Japanese cars. No compromise has yet been found with Switzerland, the EU or Canada. The date is August 1.

“We have just concluded a huge trade agreement with Japan,” Donald Trump said on his social social network on Tuesday, calling him “unprecedented”. “Japan will pay reciprocal customs duties of 15% in the United States,” he said, below 25% surcharge, the archipelago of which was threatened on August 1.

Japan, although the United States-key: is currently subject to the same basic American customs duties of 10% as most nations, as well as 25% surcharges on cars and 50% on steel and aluminum. This agreement with Tokyo will lead to the creation of “hundreds of thousands of jobs”, said Trump, mentioning Japanese investments up to “$ 550 billion” on American soil, without detail except that “90% of the profits would be perceived by the United States”.

Big challenge for manufacturers

“We think it’s a great success to have been able to get the greatest reduction [des surtaxes] Among the countries with a trade surplus with the United States, “said Japanese Prime Minister Shigeru Ishiba.

The announcement comes when negotiator Ryosei Akazawa was making his eighth trip to Washington. “Mission accomplished”, he was delighted on the social network X. According to Trump, Japan agreed to open up “to the trade in cars and pick-ups, rice and a number of other agricultural products” from the United States.

On the automobile, the stake was high: the automobile represented almost 30% of Japan exports last year to the United States. In the archipelago, the automotive industry represents 8% of jobs. However, following the 25% surcharge imposed since April on the automobile, the exports of Japanese cars to the United States have plummeted a quarter over a year in May and June.

Breakdown

According to Ishiba, the agreement concluded provides that these surcharges are divided by two and are added to the pre -existing customs duties of 2.5% to achieve final taxation of 15%.

Following this information, the Toyota action flew by more than 14% on the Tokyo Stock Exchange around 05:30 (time in Switzerland). “I strongly welcome that this major step has been taken and dissipates the uncertainty that concerned private companies,” reacted Tatsuo Yasunaga, president of the foreign trade council bringing together Japanese exporting firms. But “on the basis of available information, it is difficult to clearly assess the impact […] We want the general table to be clarified as soon as possible, ”he warned.

Inflecting imports of rice has been a taboo for Tokyo in recent months, who ensured the interests of local farmers. “We continued negotiations to achieve an agreement that meets the national interest in Japan and the United States” and “nothing imposes sacrifices on our farmers,” Ishiba said on Wednesday.

Japan currently imports up to 770,000 tonnes of rice exempt from customs duties and could import more American cereals in this limit-to the detriment of other origins-he explained.

Always taxed steel and aluminum

On the other hand, the American surcharge of 50% on steel and aluminum is not affected by the agreement, no more than the defense expenses of Japan whose reinforcement claims, said Ryosei Akazawa.

Washington intends to impose from August 1 of massive so-called “reciprocal” surcharges, initially scheduled for April 1 and then suspended, in many of its business partners, unless the latter conclude agreements with the United States by then. The American government currently has four of these agreements to its credit: in addition to Japan, the American president announced on Tuesday that he had concluded one with the Philippines. The United States has already agreed with the United Kingdom and Vietnam.

And Trump detailed on Tuesday the conditions for a framework agreement concluded with Jakarta, paving the way for a final agreement still to be built. “Europe will come tomorrow and, the next day, we have others who come from it,” even assured Donald Trump on Tuesday in front of republican senators.

Trump has declared customs duties of 30% on all imports from the EU and Mexico from August 1. Canada faces 35% surcharge and Brazil 50%. The United States has also agreed on a de-escalation with China, after a rise in trade tensions between the two world’s first economic powers. (JZS/ATS)

In a small village north of London, sex lovers organized a swingers festival. A thousand participants took advantage of the weekend to satisfy their desires, to the chagrin of the inhabitants.

This weekend, the British little town of Allington hosted a festival of a somewhat special genre: the “Swingathon”, a mega orgy bringing together more than 1000 people. For a few hours, there were therefore more festival -goers than inhabitants in this village of 897 souls.