President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country.
In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States.
He also said that Japan would increase market access to American producers of cars, trucks, rice and certain agricultural products, among other items.
Trump’s post made no mention of easing tariffs on Japanese automobiles, which account for more than a quarter of all the country’s exports to the United States and are subject to a 25% tariff.
Reuters could not immediately confirm the elements of the deal announced by Trump, and details were scant.
The White House did not immediately respond to a request for additional details, while the Japanese foreign ministry did not immediately respond to a request for comment on Trump’s announcement.
“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 said.
Trump’s announcement follows a meeting with Japan’s top tariff negotiator, Ryosei Akazawa, at the White House on Tuesday, according to a person familiar with the matter.
Reuters
