Trade negotiations between the US and its global partners have yielded two deals so far this week — one with Japan, this year’s biggest bilateral trade deal for the US, and the other with the Philippines.
The announcements come as trade talks intensify ahead of an Aug. 1 deadline after which US President Donald Trump has threatened increased tariffs.
The deals follow agreements struck earlier this month with Vietnam and Indonesia and, certainly in the case of Japan and Indonesia, include potential energy transactions.
Japan has agreed to a 15% levy on exports to the US, including from its key automobile sector, down from an earlier threatened 25%. The US has slapped a 25% duty on auto imports from other countries.
In return, Japan will invest $550 billion in the US and import more American cars and rice, among other goods.
