July 23, 2025
United States:
Trump Strikes Deal With Ally Japan Setting Tariff Rate at 15%
President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on imports including automobiles from the key American ally, while creating a $550 billion fund to make investments in the US.
The agreement, touted by Trump after he secured breakthroughs in a final 75-minute Oval Office meeting Tuesday with Japanese negotiators, spares the nation from a threatened 25% tariff that was set to take effect next week.
Europe:
EU Readies €100 Billion No-Deal Plan to Match US 30% Tariff
The European Union plans to quickly hit the US with 30% tariffs on some €100 billion ($117 billion) worth of goods in the event of no deal and if US President Donald Trump carries through with his threat to impose that rate on most of the bloc’s exports after Aug. 1.
As a part of a first wave of countermeasures, the EU would combine an already approved list of tariffs on €21 billion of US goods and a previously proposed list on an additional €72 billion of American products into one package, a European Commission spokesman said on Wednesday.
Asia:
Japan 40-Year Bond Auction Sees Weakest Demand Ratio Since 2011
Japan’s 40-year government bond auction saw its weakest demand since 2011 amid concerns over government spending and after the US and Japan reached a trade deal.
The bid-to-cover ratio, a measure of demand, came in at 2.127, compared to 2.214 at the previous auction. The bonds yielded 3.375%, the highest on record. JGB futures were little changed after the result.
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