Trump announces trade deal with Japan, including 15% tariff.
The US president stated that Japan will open up to trade in cars, trucks, rice, and certain agricultural products.
WASHINGTON (Reuters) - US President Donald Trump announced on Tuesday a trade agreement with Japan that he said will result in $550 billion in investment in the United States and the payment of a reciprocal tariff of 15%.
In a post on Truth Social, Trump added that Japan will open up to trade in cars, trucks, rice, and certain agricultural products, among other items.
"This is a very exciting time for the United States of America, and especially because we will continue to have a great relationship with the country of Japan," he said.
Trump's announcement came after a meeting with Japan's chief tariff negotiator, Ryosei Akazawa, at the White House on Tuesday, according to the Asahi newspaper.
The newspaper also reported that Akazawa met with U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.
