U.S. President Donald Trump has announced a new trade deal with Japan on Tuesday, calling it one of the largest agreements ever made.
In a post on Truth Social, Trump said Japan will invest $550 billion into the United States, with the U.S. receiving 90% of the profits. He highlighted the deal’s potential to create hundreds of thousands of American jobs.
Trump also said Japan will open its market to U.S. goods, including cars, trucks, rice, and selected agricultural products. A key feature of the agreement is Japan agreeing to pay a 15% reciprocal tariff on U.S. exports.
“This is a very exciting time for the United States,” Trump wrote, stressing the importance of continuing a strong relationship with Japan.
The deal marks a significant development in U.S.-Japan economic ties amid ongoing global trade negotiations and is ahead of the 1 August tariff deadline for countries to make a deal to reduce Trump's tax hikes.
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