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Investing.com-- U.S. President Donald Trump’s 15% reciprocal tariffs on Japan are not a ceiling, and will be levied on goods which are already subject to tariffs of 15% or higher, Japanese media reported on Thursday.
Reports from Kyodo and the Asahi Shimbun said that in contrast to Japan’s explanation of a recent U.S. trade deal, Washington will not give Japan special treatment in capping tariffs on its exports at 15%. Both reports cited White House officials.
The reports come just weeks after Washington and Tokyo agreed to a trade deal that will see Japan subject to a 15% U.S. tariff.
But the deal may be interpreted differently by the two sides, given that Thursday’s reports suggest that the 15% level is not a hard cap on U.S. tariffs.
Trump’s executive order outlining his tariffs on major trading partners specified that only the European Union would receive exemptions for items with already existing tariffs.
Still, formal details of the U.S.-Japan trade deal are yet to be released. Trump’s tariffs are set to take effect from this week.
Trump had demanded that Japan buy more U.S. agricultural and automobile goods as part of the trade deal. He claimed this week that Japan had agreed to import Ford’s F-150 pickup trucks.
Trump also announced a 100% tariff on all semiconductor imports on Wednesday.