President Donald Trump signed an order on Thursday to lower tariffs on Japanese automobile imports and other products, sealing a trade deal first announced in July.

The order reduces U.S. tariffs on Japanese cars from 27.5% to 15%, with the change set to take effect by the end of this month. The lower duties on autos will begin seven days after the order's publication, while some tariff relief is retroactive to August 7. Reuters earlier reported, citing a Japanese government source, that the cut had been expected as part of broader negotiations.

Trump lowers tariffs on Japanese imports: What we know

Trump's levies on global shipments, imposed in August, had weighed heavily on Japanese carmakers. Toyota said last month it expected a nearly $10 billion hit from the tariffs on vehicles

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