This executive order reflects a trade agreement reached between the United States and Japan. Under this agreement, nearly all goods imported from Japan will have a baseline 15% tariff. Certain products of Japan are not subject to a tariff, including natural resources unavailable in the United States, generic pharmaceuticals, generic pharmaceutical ingredients and generic pharmaceutical chemical precursors. The government of Japan has agreed to expedite a 75% increase in United States rice procurements and purchases of United States agricultural products, including corn, soybeans, fertilizer, bioethanol (including for sustainable aviation fuel) as well as other United States products in amounts totaling $8 billion per year. Additionally, the government of Japan has agreed to invest $550 billion in the United States in investments to be selected by the United States government.