WASHINGTON (AP) — President Donald Trump has announced a trade framework with Japan, placing a 15% tax on goods imported from that nation. Trump posted on Truth Social that “This Deal will create Hundreds of Thousands of Jobs.” The 15% tax is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1. Trump also announced a trade framework with the Philippines that would impose a tariff of 19% on its goods while American-made products would face no import taxes. The president also reaffirmed his 19% tariffs on Indonesia.
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