Trade
Economists hail US-Japan deal
Japan’s trade agreement with the US could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15 per cent level agreed overnight, economists say. Tokyo’s deal with the US lowers tariffs on auto imports to 15 per cent from levies totalling 27.5 per cent previously. Duties that were due to come into effect on other Japanese goods from August 1 will also be cut to 15 per cent from 25 per cent.
