US Japan Maintain Trade Pact After Court Ruling

WASHINGTON: (Web Desk) – Japan and the United States have confirmed they will continue honoring last year’s trade agreement, even after the US Supreme Court blocked several of President Donald Trump’s proposed global tariffs. The court ruled Friday that Trump did not have the authority to impose the sweeping duties. In response, the president unveiled a new 15 percent global tariff set to take effect Tuesday.

Under the earlier agreement between Tokyo and Washington, threatened US tariffs on Japanese goods were reduced from 25 percent to 15 percent in exchange for a $550 billion Japanese investment package in the United States. During a 40-minute phone discussion on Monday, US Commerce Secretary Howard Lutnick and Japan’s Trade Minister Ryosei Akazawa welcomed the launch of initial projects worth $36 billion under the deal.

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Japan also urged Washington to ensure that any new tariff measures do not put Tokyo at a disadvantage compared with the previous agreement. Both sides reaffirmed their commitment to implementing the deal swiftly and in good faith. Meanwhile, European Union lawmakers decided to pause their own trade agreement with the United States following the Supreme Court decision, delaying a scheduled vote. President Trump warned on social media that countries attempting to take advantage of the ruling could face even steeper tariffs.