The two countries had been at an impasse on trade talks for months.
President Donald Trump on Tuesday announced a trade agreement with Japan, claiming he’d notched a deal with one of the country’s top trading partners.
In a post on Truth Social, Trump said the U.S. will charge a 15 percent tariff on Japanese exports to the U.S. in exchange for a $550 billion investment in the U.S. Japan, he said, will open its market to U.S.-made “Cars and Trucks, Rice and certain other Agricultural Products, and other things.”
“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 wrote on Truth Social. “Thank you for your attention to this matter!”
Japan was the United States’ fifth largest trading partner in 2024, making it by far the biggest trade deal the Trump administration has reached so far — not counting the temporary tariff truce they reached with China this past spring.
Trump celebrated the deal at the White House Tuesday night, telling a gathering of Republican members of Congress that other countries were “no longer taking advantage of us.”
“This deal is, they say, the biggest deal ever made, biggest deal ever made,” Trump said. “We have some other ones coming in. We’re doing things that have never been done in this country before, and our country is becoming very rich again, and that’s the way it should be.”