The US is working to finalize an announcement that would end the stacking of universal tariffs on Japanese goods, a senior Trump administration official said Friday.

It also lowered its 2025 export growth forecast from 3.6 percent to 1.2 percent. Corporate investment growth outlook was reduced from 3.0 percent to 1.8 percent, considering the tariffs' impact on Japan's automotive and other key export industries, as well as businesses' more cautious stance on capital expenditure, according to Jiji Press.

U.S. automakers worry that President Donald Trump’s agreement to tariff Japanese vehicles at 15% would put them at a competitive disadvantage, saying they will face steeper import taxes on steel, aluminum and parts than their competitors,