Japan-U.S. trade deal estimated to boost Japan's GDP by 0.8% - Metro US

Japan-U.S. trade deal estimated to boost Japan’s GDP by 0.8%

FILE PHOTO: An industrial port is pictured in Tokyo, Japan, May 23, 2019. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) – The trade deal reached between Japan and the United States is expected to boost Japan’s economy by about 0.8%, the Japanese government said on Friday.

The deal is also estimated to contribute about 4 trillion yen to Japan’s gross domestic product based on its fiscal 2018 GDP and the pact will create about 280,000 jobs in Japan, it said.

The United States and Japan signed a limited trade deal that cuts tariffs on U.S. farm goods, Japanese machine tools and other products while further staving off the threat of higher U.S. car duties.

(Reporting by Kaori Kaneko; Editing by Chris Gallagher)

More from our Sister Sites