Regarding the US tariff measures, Prime Minister Ishiba officially announced that an agreement had been reached to halve the 25% additional tariff on automobiles, bringing the total to 15%, including the existing tax rate.

He emphasized that they had succeeded in achieving a deal that was in line with the national interests of both countries.

Here is a summary of the Japanese side's reaction.

Japan and the US agree to 15% mutual tariffs, including 15% auto tariffs [more details]

【Reactions from around the country】 Export-related companies, etc. following the Japan-US agreement on mutual tariffs

NHK News 7: Japan-US tariff negotiations: An agreement is finally reached as the deadline approaches. The details are available on [NHK Plus]

Distribution deadline: 7/30 (Wed) 7:30 pm

[Video] Prime Minister Ishiba's comment

Prime Minister Ishiba: "This is the lowest figure among countries with a trade surplus with the United States."

On the morning of the 23rd, Prime Minister Ishiba told reporters at the Prime Minister's Office that"President Trump and I have recently reached an agreement regarding the Japan-U.S. consultations regarding the U.S. tariff measures."

Regarding automobiles and other items that have been the focus of attention, the 25% additional tariff rate imposed since April this year has been halved to 15% including the existing tariff rate, he said,"We have been able to achieve a reduction in tariffs on automobiles and automobile parts with no quantitative restrictions, ahead of the rest of the world."

He also explained that the reciprocal tariffs that were to be imposed on the 1st of next month will be kept at 15%, the lowest figure to date for a country with a trade surplus with the U.S.

He also revealed that he had received a commitment that Japan would not be treated as inferior to other countries if tariffs were to be imposed in the future on materials important to economic security, such as semiconductors and pharmaceuticals.

Regarding rice, he said that the import ratio will be increased within the framework of the existing"minimum access" system, taking into account the supply and demand situation of rice in Japan, and that there is no content that sacrifices agriculture.

He emphasized the results, saying,"Since I proposed to President Trump at the White House summit in February this year that 'investment over tariffs', I have consistently asserted and strongly lobbied the United States. We have aimed to reach an agreement that is in line with the national interests of both Japan and the United States while protecting what needs to be protected. This is exactly the kind of agreement we have reached with President Trump."

When asked about his own plans in light of this result, he said,"Minister Akazawa will return to Japan and receive a detailed report. When it comes to actually implementing it, the U.S. government will take the necessary measures. I intend to carefully examine such matters, including that aspect."

Afterwards, Prime Minister Ishiba told reporters at the LDP headquarters,"Japan and the United States have reached an agreement, but there are more than 4,000 export items to the United States, and this is an extremely serious issue for the companies and businesses that handle each item. It is extremely important that we respond properly so that the agreement is implemented without fail. I will be reporting to Minister for Economic Revitalization Akazawa when he returns to Japan tomorrow, and I would like to do everything in my power to ensure that the lives of the people are properly protected."

Prime Minister Ishiba calls for "a new golden age for Japan-US relations"

Prime Minister Ishiba posted a message on his old Twitter account "X," writing,"We have been able to reach an agreement that will benefit both Japan and the United States based on the idea of investment over tariffs. Both automobile tariffs and reciprocal tariffs will be 15%. I would like to express my sincere gratitude to President Trump for his leadership and the efforts of Minister Akazawa and other people on both sides. Together with the President, we will build a new golden age for Japan and the United States."

[Video] Comments from Minister of State for Economic Revitalization Akazawa

Minister of State for Economic Revitalization Akazawa: "The Prime Minister gave me final instructions at the last minute"

"I just paid a courtesy call on President Trump at the White House and we discussed the tariff measures for about an hour and 10 minutes, and as a result, we were able to reach an agreement between Japan and the United States. I called Prime Minister Ishiba just before my courtesy call on President Trump, and I received his final instructions before going into the discussions," Akazawa said to reporters in Washington, where he was visiting."We aimed to reach an agreement that was in line with the national interests of both Japan and the United States, and it was not an easy negotiation, but we were able to reach an agreement that contributes to the national interests of both countries based on the mutual understanding and trust built through close discussions between Japan and the United States. I am very pleased about this," he said."It was not at all decided that I would meet with President Trump when I took off from Haneda Airport. After I arrived here, I discussed with Secretary of Commerce Rutnick and Secretary of the Treasury Bessent, and we agreed to meet with the president."

"We have agreed to accept American-made passenger cars that are safe for the Japanese traffic environment without additional testing. This simplifies the certification process, but it is naturally premised on ensuring the safety and security of the people," he said.

When asked by reporters about his views on Prime Minister Ishiba's future, he said,"Politicians, not just the prime minister, should decide for themselves what to do next. It is not for me to say anything about it."

Minister of State for Economic Revitalization Akazawa posts "Mission Accomplished" to X

After meeting with US President Trump, Minister of Economic Revitalization Akazawa posted a message on the old Twitter account"X" just before 9am Japan time.

In the message, he wrote,"I went to the White House today. Mission accomplished. I am truly grateful to all involved."

He also introduced a photo of the summit meeting between Prime Minister Ishiba and President Trump held at the G7 summit last month, which was displayed on the landing of the stairs at the White House, and wrote,"I found a photo of my boss (Prime Minister Ishiba Shigeru) meeting with President Trump, so I took a commemorative photo."

Economic Trends

Nikkei Stock Average closes at highest level this year

On the Tokyo Stock Exchange on the 23rd, the Nikkei Stock Average rose by more than 1,500 yen as buying orders surged, mainly for export-related stocks such as automobile manufacturers, following the agreement reached in Japan-US negotiations over US tariff measures, setting the reciprocal tariff on Japan at 15%.

The Nikkei Stock Average closed at 41,000 yen for the first time in about a year since July 17th last year, reaching a new high this year.

▽The Nikkei Stock Average closed at 41,171.32 yen on the 23rd, 1,396.40 yen higher than the closing price on the 22nd▽The Tokyo Stock Price Index, Topix, rose 90.19 points to 2,926.38

▽The daily trading volume was 3,024,050,000 shares.

A market insider said,"The fact that automobile tariffs, which were the biggest focus of attention, were raised to 15% came as a pleasant surprise to the market. However, the tariffs are not going away, so some investors are remaining cautious about the future and attention is focused on future trends in corporate earnings."

Keidanren Chairman Tsutsui: "Highly commended, appropriate economic measures should be rushed"

Keidanren Chairman Tsutsui responded to a group of reporters,"The Japanese government has been committed to the national interest, and has been negotiating tenaciously for a long time, and we highly appreciate the results. On the other hand, when we look at the impact on the domestic economy, it will be less than the original 25% tariff rate, but it is true that it will have a large impact on GDP growth rate. I believe that appropriate domestic economic measures will be taken quickly in the future."

Regarding the agreement to set tariffs on automobiles at 15%, he said,"There was a lot of concern about automobiles, including parts, because they have an extremely large impact and have a wide range of applications, but I would like to highly evaluate the reduction in the tax rate as an achievement."

Meanwhile, in relation to President Trump's post on his social media account that"Japan will invest 550 billion dollars in the United States, or about 80 trillion yen in Japanese yen," Chairman Tsutsui said,"I am not aware of the details, but I think we can expect investment to expand toward that goal. Once the details are clear, we would like to support it in various ways."

Japan Business Federation Executive Director Shinnami: "An important breakwater for companies"

Niinami, executive director of the Japan Business Federation, commented,"I would like to commend the government for providing a certain level of perspective. The fact that a full hike in tariffs, including on automobiles, has been avoided could be an important bulwark for companies, and I would like to express my respect for the government's tenacious negotiating efforts." He went on to point out,"The fundamental trend of America's inclination towards nationalism and its declining involvement in international cooperation will not change in the future. It is urgent that we not only strengthen Japan-U.S. relations, but also proceed with the reconstruction of a framework for international cooperation led by Japan, and work to strengthen the resilience of the Japanese economy."

Chairman Kobayashi of the Japan Chamber of Commerce and Industry: "The impact on small and medium-sized enterprises is unavoidable"

Kobayashi, chairman of the Japan Chamber of Commerce and Industry, commented,"We appreciate that the uncertainty surrounding the tariff rates, which was the biggest concern, has been dispelled."

He added,"We have no choice but to say that we regret that reciprocal tariffs and a 15% tariff on automobiles and auto parts will be imposed. This will inevitably have an impact not only on export companies, but on the entire domestic supply chain responsible for parts supply and logistics, and in particular on the management of many small and medium-sized enterprises. We ask the government to promptly announce the details of the agreement, and to take all possible measures to deal with secondary impacts such as expected future policy trends in the United States and the influx of cheap products from third countries into the Japanese market."

Chairman of Japan Foreign Trade Council: "We appreciate that business uncertainty has been cleared up"

Tatsuo Yasunaga, chairman of the Japan Foreign Trade Council, an organization made up of major trading companies, said,"I would like to give high marks to the fact that business uncertainty has been cleared up, which is a major milestone. When a company is making business activities or investment decisions, the first thing to consider is policy stability and being able to see the outlook for trade terms, including tariffs, so I would like to commend the progress made in making uncertainty more visible."

Chairman Yasunaga added,"The reports say that there have been agreements on investments worth $550 billion and on opening up markets for automobiles, rice, and other products, but I would like the overall picture to be made clear as soon as possible. After that, we would like to carefully consider what kind of contribution we can make as a private company."

Furthermore, with regard to President Trump's statement that he will reach an agreement with Japan regarding Alaskan LNG (liquefied natural gas), Chairman Yasunaga refrained from commenting on individual cases, but said,"The United States has a variety of issues, such as environmental regulations and labor issues, and a final investment decision cannot be made without conducting a very careful feasibility study. Unfortunately, at this point in time, I am not aware of the content of the study that will determine whether to proceed next, and I believe that it is something that should be prepared by countries that have resources."

Bank of Japan Deputy Governor Uchida: "This will reduce uncertainty for the Japanese economy"

Bank of Japan Deputy Governor Uchida held a press conference in Kochi City on the 23rd and stated that the agreement reached in the Japan-US negotiations over the US tariff measures is "a big step forward and will lead to less uncertainty for the Japanese economy," but that the impact on the economy is difficult to confirm through statistics and other means, and that he will carefully assess it.

In this regard, Deputy Governor Uchida stated that the agreement reached in the Japan-US negotiations over the US tariff measures is"a very big step forward and will lead to less uncertainty for the Japanese economy. It is a positive thing for the economy," indicating that he believes that it will have a positive effect on the Japanese economy.

However, Deputy Governor Uchida stated that"it is difficult to confirm with hard data what the impact of tariffs will be on the domestic and global economies, so in that sense uncertainty remains," indicating that the impact on the economy is difficult to confirm through statistics and other means, and that he will carefully assess it.

Meanwhile, in a speech prior to the press conference, Deputy Governor Uchida said,"Since the strong labor shortage is expected to continue into the future, the main scenario is that the trend toward aggressive wage and price setting behavior will not cease," emphasizing that the Bank of Japan is prepared to consider additional interest rate hikes while carefully assessing the impact of tariff measures.

Japan Pharmaceutical Manufacturers Association:"We don't want the drug tax exemption to be abolished"

On the morning of the 23rd, Prime Minister Ishiba told reporters at the Prime Minister's Office,"We have received a guarantee that in the future, if tariffs are imposed on materials important to economic security, such as semiconductors and pharmaceuticals, Japan will not be treated as inferior to other countries."

In relation to this, Masashi Kinoshita, chairman of the Japan Pharmaceutical Manufacturers Association, which is made up of pharmaceutical manufacturers, said at a press conference on the 23rd,"Pharmaceuticals are treated as tax-exempt, and we would like to see that basic principle not be undermined."

He also expressed the view that even if tariffs are imposed, sufficient consideration must be given to ensure that access to innovative medicines for Japanese and American patients is not hindered.

Meanwhile, regarding future investments in the United States, Chairman Kinoshita stated,"The United States is a large market, so we believe that our mission is to continue to make sure we invest and deliver innovative medicines to patients," showing a positive attitude.

Auto parts manufacturer:"We're determined to get going"

Subaru, a major automobile manufacturer with a focus on the US market, has its only domestic production base in Ota City, Gunma Prefecture, and Ota City and its surrounding areas are home to many automobile-related companies.

Toa Industries, a temporary subcontractor that supplies suspensions and other parts to Subaru, has been busy gathering information and considering cost reductions since the Trump administration announced a series of tariff measures.

Toa Industries President Shinichi Iizuka took a positive stance on the content of the agreement, saying,"I got the impression that they kept it within a realistic range. At the same time, I think that if the number is this high, the tariffs will continue. We will make up our minds and work on the assumption that the number will be 15%."

He then said,"Assuming 15%, we will be able to see how much we need to reduce costs through technological development and productivity improvements, so we will work hard to achieve that."

Regarding the impact on the local economy, where many auto-related companies are located, he predicted,"If it's 15%, the supply chain will be tough, but I think it can just about continue. If each company continues to make improvements such as streamlining and efficiency, I think they can survive."

Furthermore, he said it will be necessary to pay attention to future negotiations between the US and other countries, saying,"Even if we are at 15%, if our competitors are at 10%, we will be forced into a tough fight. We want to keep a close eye on how big the gap will be with Canada, Mexico, South Korea, and others."

Automotive industry officials praise the situation but call it "tough"

Regarding the agreement to set tariffs on automobiles at 15%, including the existing tax rate, an executive at an automobile manufacturer said,"This is the result of persistent negotiations by government officials. We are grateful and appreciate the significant reduction in the tax rate. We would like the government to continue making adjustments toward abolishing the tax rate, but we are grateful to the government."

Another automobile manufacturer official said,"The tax rate remains high, so it is a tough situation," but added,"With the uncertainty gone, it will probably be easier to do business."

Chairman of the Japan Shipbuilding Industry Association: "Expand production capacity"

In the agreement on the US tariff measures, cooperation in shipbuilding, which had been included in Japan's negotiating cards, was also listed as one of the areas of cooperation between Japan and the US.

In response to this, Yukito Higaki, president of Imabari Shipbuilding, the largest shipbuilding company in Japan and chairman of the Japan Shipbuilding Industry Association, said at the company's financial results conference held on the 23rd,"It would be interesting to collaborate on the development of humanoid robots that utilize shipbuilding technology. We would like to expand our production capacity by following the trend of government support triggered by the Japan-US negotiations," indicating his intention to consider future responses in response to the agreement.

On the other hand, the shipbuilding industry is facing a serious labor shortage as well as fierce competition from Chinese and Korean manufacturers, and said,"There is a growing sense of crisis that Japan's shipbuilding industry is no match for the US. First of all, we would like to focus on increasing the amount of construction at our own base."

Finance Minister Kato: "An agreement that is in line with the national interests of Japan and the United States"

Regarding the agreement reached in the Japan-US negotiations over the US tariff measures, Finance Minister Kato responded to a group of reporters on the afternoon of the 23rd, saying,"This agreement is the result of our consistent and strong efforts to lobby the US, and we have been able to reach an agreement that is in line with the national interests of both Japan and the US, while protecting what needs to be protected."

Regarding support for domestic industries affected by the tariff measures, Minister Kato said,"We will thoroughly analyze the impact of the tariff measures on our economy, and we will do our utmost to provide support, particularly for the financing of small and medium-sized enterprises and small businesses."

Minister Kato also stated that the contents of this agreement "do not include any content related to foreign exchange."

Agriculture Minister Koizumi: "Minimum access to imported rice will be maintained"

Minister of Agriculture, Forestry and Fisheries Koizumi told reporters just before noon on the 23rd,"Farmers may have been worried that 'more imported rice will come,' but that has not happened at all."

After stating that the government would maintain the "minimum access" quota under which it imports 770,000 tons of rice tariff-free each year, he said,"It is up to Japan to decide which countries to buy from, how, and in what proportion within the minimum access quota. Looking at the current supply and demand situation, there is a possibility that we will buy rice produced in the United States, and the proportion of American rice may increase."

Minister of Economy, Trade and Industry Muto to provide information on tariff rates by item at consultation desk

Regarding the Japan-US agreement, Minister of Economy, Trade and Industry Muto responded to a reporter's question at around 2:00 pm on the 23rd, saying,"In light of this agreement, we will continue to grasp the impact on domestic industry and employment, and will take all possible measures to ensure that necessary measures can be taken without hesitation."

In addition, the ministry plans to provide detailed information on tariff rates for each item at the approximately 1,000 consultation desks it has set up around the country, and also to provide consultation on financial support for small and medium-sized enterprises.

According to the Ministry of Economy, Trade and Industry, the consultation desks have received over 4,200 inquiries as of the 4th of this month.

Chief Cabinet Secretary Hayashi:"With the deadline approaching, we reached an agreement in consideration of the national interests of both countries."

Chief Cabinet Secretary Hayashi stated at a morning press conference,"This agreement was reached with the mutual tariff hike deadline approaching from the 1st of next month in mind, and was reached with both countries' national interests in mind. It is also extremely important from the perspective of our country's economic security."

However, he said that the 50% tariff rate on steel and aluminum products is not included in this agreement, and added,"Japan and the United States will continue to hold thorough discussions on a series of tariff measures, including those on steel and aluminum."

When asked if the agreement on the US tariff measures would affect Prime Minister Ishiba's decision on his future, he said,"It is a matter for the Prime Minister to decide, and I am not in a position to answer that question."

He went on to explain,"Prime Minister Ishiba has stated, 'We must fulfill our responsibilities as the comparatively largest party, and our responsibilities to the nation and the people, so as not to stall politics. Minister for Economic Revitalization Akazawa will return to Japan and receive a detailed report on the tariff negotiations. The US government will take necessary measures to implement the agreement, and we will thoroughly examine such matters, including that aspect.'"

LDP Policy Research Council Chairman Onodera: "Balanced Agreement and Evaluation"

LDP Policy Research Council Chairman Onodera told reporters at party headquarters,"The substantial reduction in automobile tariffs and close cooperation in the field of economic security are extremely important results in protecting Japan's core industries and national interests. It is also important that there were no unilateral concessions from the Japanese side in areas such as agriculture, foreign exchange, or defense spending, and I evaluate this as a balanced agreement."

When asked about the impact of the agreement on Prime Minister Ishiba's future, he said,"This result is the result of the efforts of many people involved, including Prime Minister Ishiba, who negotiated tenaciously, and Minister for Economic Revitalization Akazawa. The negotiations have finally been concluded, so it is in the national interest for us to move forward steadily. I think it is up to Prime Minister Ishiba to decide what to do on that basis."

CDP leader Noda: "Analyze the negative impact on Japan's economy"

Constitutional Democratic Party leader Noda told reporters,"There is a sense of relief in the market that the uncertainty surrounding the tariff negotiations has been lifted, but there is still a blow, such as the increase in tariffs on automobiles to 15%, six times the current amount. Either way, this will be a negative for the Japanese economy, so it is important to carefully examine the impact. As a domestic measure, it is important to conduct a detailed analysis and, if necessary, respond with a supplementary budget, and I don't think it is enough to simply set up a consultation desk."

Regarding the extraordinary Diet session scheduled to be convened on the 1st of next month, Noda said,"There are still some parts of the agreement that are unclear. I have instructed Diet Affairs Committee Chairman Kasa to receive a report on the content of the negotiations and request that deliberations be held for an appropriate period of time."

CDP's Saito, Chairman of the House of Councillors' National Affairs Committee:"Proper deliberation is necessary in the extraordinary Diet session"

Constitutional Democratic Party of Japan's House of Councillors Diet Affairs Committee Chairman Saito told reporters,"I don't think the agreement is sufficient. We need to examine why the figure of 15% came up, what kind of discussions took place, and whether the overall result is damaging to the national interest. Proper deliberation is needed in the extraordinary Diet session."

Iwatani, Secretary General of the Japan Innovation Party,"Requests that details be made clear"

At a press conference, Iwatani, secretary-general of the Japan Restoration Party, said,"I would like to express my respect for the efforts of the government authorities in avoiding the worst-case scenario of an additional 25% tariff."

He added,"I think that a 15% tariff is still a high level, so I am concerned about the effect it will have on Japan's GDP. I will immediately ask the government to clarify the details, and we will rigorously examine the matter in the Diet and make the necessary proposals."

"I feel like the negotiations are going well" says Kokumin Representative Tamaki

Speaking in Tokyo's Chiyoda Ward, Democratic Party for the People leader Tamaki said,"Raising the tariff rate to 15%, including for automobiles, is a major achievement. As for the decision not to change the tariff rate for rice within the framework of the 'minimum access' system, I feel that the impact on Japan has been kept limited, and that we have been able to negotiate well."

Komeito Chairman Saito: "An agreement that contributes to the national interests of both Japan and the United States"

Komeito leader Saito released a comment saying,"I received a direct call from Minister for Economic Revitalization Akazawa, who is in the United States. At a time when the impact on the domestic economy was beginning to be felt, I believe that an agreement was reached that will benefit the national interests of both Japan and the United States, as a result of persistent negotiations. I believe that the result has been that what needed to be protected has been protected. Although the tariff rates have been reduced, the critical moment will come when it comes to the impact on domestic industry, including automobile-related companies, so I would like to request strong additional economic measures appropriate to the situation, such as financing for small and medium-sized enterprises and the agricultural sector."

Communist Party Chairman Tamura: "It's not a win-win situation"

At a press conference, Communist Party Chairman Tamura said,"The agreement cannot be called a win-win, and remains a unilateral imposition of high tariffs that ignores international rules.There are many points that need to be clarified, such as what kind of negotiations were conducted, and we will call for thorough deliberation on the impact on domestic industries and countermeasures."

Social Democratic Party leader Fukushima: "I don't understand the details and strongly request an explanation"

At a press conference, Social Democratic Party leader Fukushima said,"Frankly, I think it's a good thing that tariffs have been reduced from 25% to 15%. However, I don't fully understand the details as to whether 15% is appropriate and why it was reduced to 15%, so I would like to strongly request an explanation."

"Experts say"

It is estimated that Japan's GDP will be pushed down by 0.55% in about a year

Nomura Research Institute executive economist Takahide Kiuchi estimates that the 15% reciprocal tariffs and 15% auto tariffs agreed upon in the Japan-US negotiations will push down Japan's GDP by 0.55% in about a year.

Regarding this, Kiuchi pointed out,"The fact that not only the reciprocal tariffs but also the additional tariffs on automobiles have been lowered means that the Trump administration has made a major concession to Japan. If the reciprocal tariffs were 25%, it was estimated that Japan's GDP would be lowered by 0.85%, so looking at the contents of the agreement, it is thought that the impact on the Japanese economy will be reduced to a certain extent."

However, Kiuchi said,"Even though the tariffs have been lowered, I think that the 15% tariff on automobiles will have a certain negative impact on the automobile industry and the Japanese economy. In addition, if the US government continues its nationalism, business risks will remain high, so there may be a movement to slow down investment in the US a little and to shift the focus of business to other regions such as Europe."