President Donald Trump and Prime Minister Shinzo Abe agreed yesterday to the elements of a trade deal between the U.S. and Japan.
Trump describes the agreement as a “great deal,” and says the two leaders hope to have something more definitive to sign late next month.
U.S. Trade Representative Robert Lighthizer says the deal will create a market in Japan for more than $7 billion in American agricultural products. In return, Trump has suspended his threat to impose a 25% levy on cars and auto parts from Japan. Those products currently face a 2.5% tariff, which continues.
But Japanese negotiators remain nervous because Trump hasn’t ruled out reviving the specter of the heftier tax, which would be imposed on the grounds that Japanese imports present a threat to U.S. national security.
“It’s something I could do at a later date if I wanted to,” Trump tells reporters. He adds, “We just want to be treated fairly.”
The Lexus ES sedan is more than just an offering within the company’s lineup.
A class-action lawsuit has been filed against General Motors Co. over claimed flaws in the company’s 8-speed automatic transmission used in 2015-2019 model rear-drive vehicles.
It’s the fifth generation of a vehicle that has been increasing in sales year after year since its introduction in 1997.