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The U.S.-Japan trade deal sparked hopes that the European Union will also be able to strike an agreement.
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After months of fraught negotiations with the United States, Japan clinched a deal just days before punitive tariffs were scheduled to take effect.
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In comparison with the 25% tariff Trump slapped on Tokyo earlier this month, a 15% tariff seems like a big improvement.
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President Donald Trump said Tuesday on Truth Social that his administration had reached a deal with Japan, one of the largest U.S. trading partners, to lower its tariff rate to 15% as part of a sweeping trade agreement
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