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Bessent Hails Financing Pitch in Japan Trade Deal as EU and China Talks Loom
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July 23, 2025
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20:25Now PlayingTreasury Secretary Scott Bessent stopped short of saying the European Union can win the same sort of trade deal as Japan cut with President Donald Trump, highlighting that Tokyo’s success came thanks to an innovative financing arrangement.
“They got the 15% rate because they were willing to provide this innovative financing mechanism,” Bessent said in an interview on Bloomberg Television’s Surveillance program Wednesday, when asked whether other trading partners could get a similar reciprocal levy.
While Japan was previously facing a 25% tariff, its negotiators reached an agreement for a 15% rate, including on imports of automobiles — which are otherwise subject to a 25% product-related duty. The deal also features a $550 billion fund to make investments into the US.
“They came to us with the idea of a Japan-US partnership, where they are going to provide equity, credit guarantees and funding for major projects in the US,” Bessent said. He also said that the foreign direct investment pledge is “all new capital.”
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