President Donald Trump announced on Tuesday a trade deal with Japan worth at least $550 billion that enforces a 15% reciprocal tariff on the country.
“We just completed a massive Deal with Japan, perhaps the largest Deal ever made,” Trump wrote on Truth Social.
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“Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits,” he added. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. 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 continued. “This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan.”
Trump threatened a 25% tariff on Japan’s exports to the United States earlier this month in his tariff letter to the country.
Additional details of the deal with Japan were not offered. Japan’s top export to the U.S. is automobiles, which had a 25% tariff in line with the other countries.
Trump said earlier this month that he did not expect the two countries to reach a deal.
TRUMP MAINTAINS 19% TARIFFS ON INDONESIA IN NEW FRAMEWORK DEAL
Trump announced further details Tuesday of the trade deal between the U.S. and Indonesia brokered this month.
“It is agreed that Indonesia will be Open Market to American Industrial and Tech Products, and Agricultural Goods, by eliminating 99% of their Tariff Barriers,” Trump wrote on Truth Social.