<h1>U.S. Sets 15% Tariff on Japanese Imports, 19% on Philippines and Indonesia Exports Starting August 1</h1> The U.S. government announced a trade agreement with Japan establishing a 15% tariff on imported Japanese goods, reduced from a previously threatened 25%. Japan agreed to invest $550 billion in the U.S. and to open its market to American automobiles and rice. Similar tariff frameworks were introduced for the Philippines and Indonesia, imposing tariffs of 19% on their exports to the U.S. while exempting American products from import taxes. These measures aim to reduce trade imbalances and encourage domestic manufacturing, though concerns remain about potential price increases for consumers and businesses. The administration continues negotiations with the European Union and China, maintaining tariffs of up to 30% on Chinese goods, with ongoing efforts to rebalance economic relations. The tariffs are set to take effect on August 1, pending further trade discussions.