US-Japan trade deal guarantees lowest tariff rates for chips, pharma

29/7/2025 18:58

Japan's leading trade negotiator said on Tuesday that the trade deal Tokyo agreed with the United States last week guarantees Japan will always receive

the lowest tariff rate on chips and pharmaceuticals of all the pacts negotiated by Washington.



"If a third country agrees with the United States on lower rates on chips and pharmaceuticals, those lower rates would apply to Japan," Ryosei Akazawa told a news conference.



The European Union secured a 15% baseline tariff as part of a framework trade deal with the U.S. this week, averting looming new tariffs on chips and pharmaceuticals.