Trump had previously threatened Japan with a tariff of 25% beginning August 1 if a deal was not reached.
- United States agreed to a trade deal with Japan including a 15 percent tariff on goods
- Japan will invest $550 billion into the United States with 90% of profits going to the US
- Japan will open its market to US cars, trucks, rice, agricultural products, and more
President Donald Trump said Tuesday that the United States has agreed to a trade deal with Japan, which would see a 15 percent US tariff on Japanese goods.
Trump had previously threatened Japan with a tariff of 25 percent beginning August 1 if a deal was not reached.
"We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump wrote on his Truth Social platform.
He said that under the deal, "Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits."
He did not provide further details on the unusual investment structure, but claimed the deal "will create Hundreds of Thousands of Jobs."
"Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things. Japan will pay Reciprocal Tariffs to the United States of 15%."
Trump has been under pressure to wrap up trade pacts after promising a flurry of deals ahead of his August 1 tariff deadline.
The announced deal with Japan follows agreements struck in recent weeks with the Philippines, Indonesia, Britain and Vietnam.
It also comes after Japanese Prime Minister Shigeru Ishiba faced a bruising weekend election that left his coalition without a majority in the upper house.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
