Six months ago, few people would have anticipated that the United States would place a 15 percent tariff on exports from Japan, one of America\u2019s closest and most longstanding allies. President Trump had campaigned on the idea of a 10 percent universal base-line tariff, plus a higher levy on China, but it was not clear whether he would follow through. <\/p>\n\n\n\n
But on Tuesday, when Mr. Trump announced a trade deal that included a 15 percent tariff on Japanese products \u2014 the highest rate those goods have faced in decades \u2014 there was a palpable sense of relief. Stock markets in Asia and Europe rose. The Japanese Nikkei 225 surged by over 3.5 percent, while shares of Japanese automakers, which will also be charged a 15 percent tariff on their exports to the United States, jumped more than 10 percent. The reaction is a testament to just how quickly and completely Mr. Trump has transformed the world\u2019s expectations regarding tariffs.<\/p>\n\n\n\n
Read it all<\/a>.<\/p> Trump\u2019s Tariffs Are the Highest in a Century. But After His Threats, They Seem Like a Relief. https:\/\/t.co\/eevtXIQ4cC<\/a> via @NYTimes<\/a><\/p>— ISMAIL (@iamaniku) July 23, 2025<\/a><\/blockquote>