The United States has reached major trade agreements with Japan and the Philippines, reshaping tariff structures and expanding market access ahead of the August 1 deadline for reciprocal levies.

Flexport said in a new update that the proposed 15% reciprocal duty on Japanese imports walks back the previously proposed 25% tariff on Japan that President Donald Trump announced on July 7.

The trade deal will also reduce auto tariffs on Japan from 25% to 15%. Last year, more than a third of Japanese goods imported into the U.S. consisted of automobiles and auto parts.

The agreement is slated to take effect August 1, aligning with the rollout of reciprocal tariffs impacting over two dozen U.S. trading partners. Implementation remains pending formal confirmation through either a presidential executive order or publication in the Federal Register.

Meanwhile, the U.S. also reached a trade deal with the Philippines on July 22.

Under the proposed deal, the Philippines will face a 19% reciprocal tariff — a small reduction from the 20% duty President Trump had previously announced, although when and how the trade agreement will be implemented is currently unclear.

The U.S. also laid out the terms of its trade deal with Indonesia. 

Indonesian goods imported into the U.S. will face a 19% reciprocal tariff, while U.S. goods imported into Indonesia will not be subject to any tariffs.

Indonesia will address certain non-tariff barriers by eliminating taxes on digital services (like internet data and streaming), pre-shipment inspections of American agricultural goods, export controls on critical minerals, and more. Indonesia will also accept U.S. federal motor vehicle safety and emissions standards for autos exported from the U.S.

In other tariff developments, U.S. Treasury Secretary Scott Bessent stated that the existing 30% effective duty rate on China is likely to extend beyond August 12. In the meantime, negotiations will likely involve China's ongoing imports of sanctioned Russian and Iranian oil.

U.S.-India trade talks are also in progress. In particular, India seeks to reduce the 26% reciprocal duty announced on Liberation Day, the 50% duty on steel and aluminum, as well as auto tariffs.

A 50% tariff on copper imports, which President Trump announced earlier this month, is set to take effect on August 1.

Flexport noted that over the past few weeks, the U.S. has announced its proposed reciprocal tariff rates for more than two dozen trade partners. Other potential duties President Trump has recently suggested include a 10% tariff on BRICS countries and a 200% tariff on pharmaceuticals.