U.S. Commerce Chief Says Japan, Korea Trade Deal Papers Due Within Weeks

U.S. Commerce Secretary Lutnick said the Biden administration is still “weeks away” from releasing the formal texts that will spell out recently negotiated trade frameworks with Japan and South Korea. The secretary, speaking in a 19 August interview on CNBC, added that staff are working “night and day” to consolidate multiple agreements into publishable documents. According to Lutnick, the forthcoming papers will include executive orders needed to align U.S. tariff policy with the accords, notably cutting the tariff on Japanese passenger cars to 15 % from the current 27.5 %. The same package is expected to clarify the mechanism for a reciprocal 15 % surcharge on other goods, an issue that has drawn criticism from Tokyo since the duties took effect in April. Japanese officials have signalled the tariff rollback could be implemented by mid-September, mirroring the roughly two-month gap seen after a comparable accord with the United Kingdom earlier this year. In parallel, the documents will detail Japan’s previously announced commitment to direct or guarantee up to $550 billion in investment toward U.S. projects deemed critical to economic and national security.