President Donald Trump announced what he called a “massive” trade deal with Japan on Tuesday night.
Trump wrote in a post to Truth Social that the trade agreement the U.S. reached with its longtime ally is “perhaps the largest deal ever made.” The president also stated that Japan will pay 15% reciprocal tariffs to the U.S. as part of the trade deal.
“We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits,” Trump wrote in his social media post. “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 wrote further. “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. Thank you for your attention to this matter!”
Trump’s announcement comes after he on July 7 announced plans to impose tariffs against South Korea and Japan beginning in August. In a separate post to Truth Social on Tuesday, Trump said that the U.S.’ trade agreement with Japan is the “largest in history,” adding that it will be “a great deal for everybody.”
Additionally, Trump announced on Tuesday that the U.S. government had reached a trade deal with the Philippines, also unveiling terms of an agreement with Indonesia.
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Author: Ireland Owens
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