U.S.-Japan Trade Agreement - Tariff Relief and Opportunities for Stakeholders

On September 4, 2025, President Trump published an Executive Order titled “ Implementing the United States–Japan Agreement .” The Executive Order, which follows President Trump’s July 22 announcement of a trade agreement between the United States and Japan, provides that “the United States will apply a baseline 15 percent tariff on nearly all Japanese imports entering the United States.” However, the Executive Order does provide tariff relief, including in some instances tariff exemptions, for “automobiles and automobile parts; aerospace products; generic pharmaceuticals; and natural resources that are not naturally available or produced in the United States.” The U.S.–Japan agreement follows a structure similar to the August 21, 2025, Joint Statement on a United States–European Union F