United States President Donald Trump and Japan’s Prime Minister Sanae Takaichi have signed two new agreements — one marking a “new golden age” in their bilateral relations, and another on critical minerals.
According to the joint statement on October 28, the two leaders noted with satisfaction the progress made so far and reaffirmed their “strong commitment to implementing this great deal.
“The Agreement will help both countries to strengthen economic security, promote economic growth, and thereby continuously lead to global prosperity,” read part of the statement.
Trump Signs ‘New Golden Age’ Trade and Rare Earth Minerals Deals
The first accord reaffirms a series of trade commitments made earlier this year, which include a 15% tariff on most Japanese imports — notably vehicles — down from the 25% rate initially threatened by Trump.
In return, Japan pledged to invest $550 billion in the U.S. economy and expand purchases of American goods across sectors such as automobiles, planes, agriculture, and energy.
The second agreement focuses on critical minerals, establishing a framework to secure the supply of rare-earth elements essential to high-tech industries and defense production.
The White House said in a statement that the agreement seeks to enhance cooperation in mining, processing, and investment as part of efforts to reduce China’s dominance, which accounts for more than 90 percent of global rare-earth processing.
It added that both countries will work to simplify regulations, tackle unfair trade practices, pursue joint stockpiling initiatives, and partner with other nations to bolster supply chain security.
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US President Praises Japan
Trump praised Japan’s first female Prime Minister, Sanae Takaichi, during his visit to Tokyo.
He commended her commitment to speeding up Japan’s military buildup. Trump and Takaichi exchanged warm praise during their summit, with Trump describing her as a “winner” who will be “one of the great prime ministers.”
“I have such respect for Japan and the country, and now I have a really great respect for the new and incredible prime minister,” he said.
“I have to say this – the first female prime minister.”
Also Read: India and US Close in on Deal to Drop Tariffs After Trump Threats
Trump on Tariffs
Trump defended his tariff policy, saying it has generated vast revenue for the United States and boosted domestic spending to record levels.
He claimed that few people understood tariffs as well as he did and argued that the measures have even helped prevent conflicts, pointing to earlier tensions between India and Pakistan.
Trump noted that the United States has helped Japan generate significant profits but said he welcomed it since Japan is a major investor in the American economy.
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