Trump announced that the US and Japan have reached "the largest trade deal in history." This was reported by BBC News.
"We have just reached a huge agreement with Japan, perhaps the largest deal in history," wrote the US president on his Truth Social network.
According to him, a 15% tariff will be imposed on Japanese products. Earlier, Trump had threatened to impose a 25% tariff on Japan starting August 1 if no deal was reached.
Trump stated that under this agreement, Japan will invest $550 billion in the US following his directive. He emphasized that the US would receive 90% of the benefits but did not provide details.
In response, Japanese Prime Minister Shigeru Ishiba said he needed to study the details of the deal announced by Trump before commenting on it.
"If we are to discuss the results of the negotiations, I cannot say anything about it until we thoroughly examine the details of the negotiations and the agreement," he told reporters in Tokyo.
