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Japan's tariff negotiator said the US would revise tariffs on Japanese goods by September 16. In an X post, he said there would be a reduction in Japanese automobile tariffs.
U.S. tariffs on Japanese goods including cars and auto parts are set to be lowered by September 16, Japan's tariff negotiator Ryosei Akazawa said in an X post on Tuesday.
“This is a massive agreement — a great deal for everybody,” Trump boasted when the pact was first announced.
President Donald Trump gave Japanese automakers some relief by cutting his high U.S. tariffs on their vehicles, but the reduced levies still mean big pain for Japan's smaller car companies, which will stay under pressure in the crucial market.
CNBC's Megan Cassella reports on an executive order President Trump signed on Thursday that implements a baseline 15% tariff on nearly all imports from Japan.
CNBC's Megan Cassella with the latest on tariffs out of Washington.
The U.S.-Japan trade deal capped tariffs at 15%, including auto tariffs, sparking a relief rally in Japanese equities, especially autos and industrials. Franklin FTSE Japan ETF is well positioned for short-term gains due to its low costs, sector diversification, and overweight to Japanese industrials and auto manufacturers.
With trade wars wreaking havoc on the markets, investors and advisors are scrambling to pinpoint areas to place their geographic bets across the globe. Despite the temporary breather on “reciprocal” tariff policies, many expect more uncertainty ahead and are shying away from tariff-exposed regions.
The Franklin FTSE Japan ETF's performance is heavily influenced by the USD/yen exchange rate. The Bank of Japan's aims to raise rates could do little for the yen, as the FOMC could offset the BO by not cutting rates again this year. The prospects of rising US tariffs could negatively impact Japanese firms and weaken the yen.
Investment manager Franklin Templeton has marked eight years as an ETF issuer in the U.S. market. Primarily known as an active manager of mutual funds, the firm also offers active, quasi-active and passively managed strategies within the ETF wrapper.