President Donald Trump on Tuesday stateside announced a “massive” deal with Japan that includes “reciprocal” tariffs of 15% on the country’s exports to the U.S., with auto duties reportedly being lowered to that level as well.
In a post on Truth Social, Trump called the agreement “perhaps the largest Deal ever made,” while adding that Japan would invest $550 billion in the United States and the U.S. would “receive 90% of the Profits.”
Trump said that Japan will “open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things.”
The U.S. president added that the deal would create “Hundreds of Thousands of Jobs.”
Following Trump’s post, Japanese Prime Minister Shigeru Ishiba said that auto tariffs on Tokyo will be lowered to 15% — from the current 25% that is levied across countries — as part of the deal, Reuters reported. Auto exports to the U.S. are a cornerstone of Japan’s economy, making up 28.3% of all shipments in 2024, according to customs data.
