First Series of Projects on Tariff Deal
Government of Japan and the United States announced their projects of investment which Japan promised last summer when they reached a deal on tariff rate. They included manufacturing artificial diamonds in Georgia, building a port for exporting crude oil in Texas and gas power generation in Ohio. The volume of investment for those projects amounts to $36 billion. The leaders of both governments welcomed the deal as a symbol of economic cooperation between two countries. Last July, both governments reached a deal on tariffs imposed by Donald Trump administration on products from Japan. The U.S. accepted reduction of rate of tariffs on Japanese products from 25 percent to 15. Tariff on Japanese cars were halved to 12.5 percent. In return, Japan offered $550 billion of investment to the U.S. by the end of Trump’s term as the president. Artificial diamond is necessary for production of semiconductors. Although Japan and the U.S. has been dependent on Chinese artif...