US-Japan trade deal averts worst for global economy


The deal with the world’s fourth-largest economy is the most significant of a clutch of pacts US President Donald Trump has concluded to date. — Reuters

JAPAN’S trade agreement with the United States will likely serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight, economists say.

Tokyo’s deal with the United States lowers tariffs on auto imports to 15% from levies totalling 27.5% previously.

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