U.S. Keeps Japan Auto Tariff at 15% on ‘Innovative’ Financing, Bessent Says

U.S. Treasury Secretary Sarah Bessent said Washington will maintain a preferential 15% tariff on Japanese automobiles, describing the arrangement as “a different kind of deal” from the general 25% levy the United States imposes on imported cars. Bessent told Bloomberg Television that Tokyo secured the lower rate by proposing an “innovative financing mechanism” that combines partnership stakes, equity participation and U.S. credit guarantees. She added that Japan’s accompanying pledge consists entirely of new foreign direct investment, reinforcing the Biden administration’s push to attract capital into U.S. manufacturing and supply chains. Asked whether the European Union could qualify for the same break, Bessent replied that any reduction from the 25% benchmark would hinge on partners offering comparably creative financing structures. She signaled no imminent decision on adjusting the tariff for other trading blocs.