### **Objective Information for the Article** * **Subject**: The United States and Japan agreed to a significant reduction of tariffs on semiconductors and pharmaceuticals in late July 2025. * **Key Details of the Deal**: * Tariff reductions of up to 15%. * **Semiconductors (Chips)**: Japanese manufacturers (e.g., Renesas, Kioxia) will see the lowest tariffs on exports to the U.S. since the early 2000s. * **Pharmaceuticals**: Japanese pharmaceutical companies (e.g., Takeda, Astellas) will have easier access to the American healthcare market. * **Reasons for the Agreement**: * **U.S. Political Pressure**: The agreement is timed to the 2025 presidential election, as a way to lower consumer costs and showcase strong foreign policy. * **Supply Chain Realignment**: Part of the U.S. "friend-shoring" strategy to shift critical supply chains away from China and toward allied nations. * **Impact on Markets and Consumers**: * **For Investors**: Japanese t...