Japan-U.S. Tariff Document to Be Released “Weeks Away”: Lutnick

U.S. Commerce Secretary Howard Lutnick said Tuesday that a document on the recent deal on U.S. tariffs on imports from Japan will likely be released “weeks away.”

The release of tariff agreement-related documents is “kind of weeks away for the Japan and (South) Korea model,” he said in an interview with U.S. broadcaster CNBC.

The administration of U.S. President Donald Trump plans to change the way it applies the 15 pct reciprocal tariffs on Japan to accurately reflect an agreement reached between Tokyo and Washington in July, meaning that a relevant executive order will need to be revised.

Another executive order, for cutting the U.S. automobile tariffs on Japanese vehicles from 27.5 pct to 15 pct, is expected to be issued at the same time.

Among other trading partners of the United States, Britain agreed on a low-tariff quota of 10 pct for up to 100,000 vehicles exported to the U.S. market a year. It took slightly less than two months for the tariff measure to go into effect.

Source: Jiji