The White House has announced a series of negotiation frameworks with key Asia-Pacific partners, including Vietnam, the Philippines and Indonesia in the lead-up to the August 1, 2025, trade negotiation deadline. These negotiation frameworks outline targets for reciprocal tariff rates of 20%, 19% and 19%, respectively, potentially replacing the current 10% baseline rate if finalized. 

Additionally, the United States outlined a separate negotiation framework with China in June. That deal remains under discussion, with an August 12, 2025, deadline approaching. Without an agreement, tariff rates could increase under pre-established provisions.

Focus on U.S.–Japan Trade Discussions

Of particular significance is the recent White House announcement regarding a proposed U.S.–Japan Strategic Trade and Investment Agreement on July 23, 2025. A fact sheet released by the White House outlines several elements of the framework:

• New Reciprocal Tariff Rate: The framework contemplates a new baseline reciprocal tariff rate of 15% on imports of Japanese goods, replacing the previous rate of 10%, but lower than the original 24% reciprocal rate proposed earlier this April. At this time, specific details like changes to Section 232 tariffs (covering steel, aluminum, related derivative products,  automobiles and automotive parts) have not been disclosed.
• Market Access to Japan: Japan indicated a willingness to increase imports of U.S. agricultural and energy products, including a 75% rise in rice imports and potential new quotas for corn, soybeans, fertilizers and biofuels, according to the White House. Additionally, Japan may ease market entry for U.S. vehicles by formally recognizing American automotive standards.
• Investments in the United States: Japan has signaled plans to invest over $550 billion in a range of U.S. sectors, including semiconductors, energy, shipbuilding, critical minerals and pharmaceuticals, according to the White House. While the form of this investment — whether through direct equity stakes or financing of economic activity — has not yet been clarified, the White House indicated that the United States will determine the sectors and projects in which Japan will invest.

Awaiting Further Guidance

As of today, the White House has not issued any executive orders, formal proclamations, or regulatory guidance implementing these proposals. The only available details are derived from preliminary fact sheets and official statements. Businesses that rely on imports from Asia — particularly from Japan — should closely monitor developments for official and legally actionable publications. Future guidance will provide critical details, such as on tariff implementation (including stacking or unstacking of rates, meaning whether multiple tariff layers will apply cumulatively), potential Section 232 duty adjustments, rules of origin, and compliance requirements.