Tokyo. Japanese Prime Minister Shigeru Ishiba has welcomed US President Donald Trump’s decision to impose lower customs duties on automobiles and other Japanese imports.

He described it as a move to remove the uncertainty faced by major industries. On July 22, the two sides signed an agreement to reduce customs duty from the previous 25 percent to 15 percent.

“The tax negotiations between Japan and the United States were the top priority of the government. We made every effort to achieve the agreement as quickly and in the best way possible,” Prime Minister Ishiba said on Friday. ’

The move comes at a time when the Japanese prime minister is facing pressure from his own right-wing rivals within his own party. There has been growing demand for his resignation after losing the election in July.

In Washington, Japan’s top tax negotiator, Riosi Akazawa, and U.S. Commerce Secretary Howard Lutnick also signed a joint statement confirming $550 billion in Japanese investment in U.S. projects.

Akazawa made it clear that Trump’s order would limit customs duties on automobiles and auto parts to 15 per cent and there would be no further increase in existing rates.

A similar ‘reciprocal customs duty’ will apply to many other goods, but aircraft and aircraft parts will remain out of it.

Although the agreement was reached in July, Japanese authorities found an error in the initial copy a few days later. Japan objected when it showed a 15 per cent increase over the existing rate. Washington accepted the mistake and agreed to refund the additional paid customs duties.

According to Akazawa, the order is expected to come into effect within two weeks. Prime Minister Ishiba sent his letter to Trump expressing his desire to “build a golden era of Japan-US relations” and invited the president to visit Japan.

Stating that the agreement was the result of his efforts focused on continuous investment, Akazawa said, “It is very important to implement the agreement faithfully and promptly.” ’