On July 24, U.S. Commerce Secretary Harold Lutnick further described the USD 550 billion investment deal done with Japan to bring down their tariffs to 15% in a video posted on X. While initial announcements on July 22 were scant on facts, Lutnick has since gone on to describe the arrangement.
Lutnick emphasized the

On July 23, U.S. Treasury Secretary Scott Bessent spoke about U.S. talks with the European Union while noting that Japan secured its lower 15% auto tariff rate by proposing an innovative financing package. The 15% rate represents a new tariff of 12.5% on top of the older 2.5% rate.
Bessent explained that Japan’s redu

On July 23, leaders of the European Union and Japan launched Competitiveness Alliance aimed at boosting economic security, defending free trade and enhancing competitiveness, as the two sides face growing challenges from the U.S. and China.
The agreement followed a meeting among European Commission President Ursula v