President Donald Trump said Tuesday he had reached a framework for a trade deal with Japan that will include a 15% tariff on imports from the island nation.
Trump outlined the broad terms of the deal in a post on Truth Social, as he has for other trade pacts. Trump said imports from Japan will face a 15% tariff, while U.S. exports to Japan will be tariff-free.
"We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump wrote on Truth Social. "Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs – There has never been anything like it."
Trump said Japan will open markets for U.S. automobiles, trucks, rice and other agricultural products.
"Japan will pay Reciprocal Tariffs to the United States of 15%. 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.
