From FOX Business: A “massive” $550 billion trade deal has been reached with Japan, President Donald Trump said on Tuesday, adding that it will create hundreds of thousands of jobs.
“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 its country to trade in things like cars, trucks, rice and other agricultural products.
“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 said.
Trump called it the “largest trade deal in history” Tuesday, adding that Japan’s “top people” were at the White House to secure a “great deal for everybody.”
Japan’s top tariff negotiator, Ryosei Akazawa, has been at the White House to negotiate the deal.
Japan’s Prime Minister Shigeru Ishiba welcomed the announcement and confirmed the deal with the US.
“Japan’s tariff rate, which had been set to increase to 25% on reciprocal tariffs, was kept at 15%. This is the lowest figure to date among countries with trade surpluses with the US,” Ishiba said on Wednesday.
Ishiba confirmed the cut in levies on Japanese vehicles to the US would be cut to 15% from 25%.
“The agreement does not include any reduction of tariffs on the Japanese side, including on agricultural products,” he said. “This is precisely the result of my consistent advocacy and strong lobbying of the US since I proposed ‘investment over tariffs’ to President Trump at our White House summit in February this year.”
関税より投資の考えの下、日米が共に利益を得られる合意に達することができました。自動車関税、相互関税とも１５％になります。トランプ大統領の指導力、赤澤大臣を始め双方の関係者の尽力に心から感謝します。大統領と共に、日米の新たな黄金時代を築きます。
With the idea of “prioritizing…
— 石破茂 (@shigeruishiba) July 23, 2025
Thanks to @POTUS’s leadership, the United States has negotiated a historic agreement with Japan, one of our great allies.
Prime Minister @shigeruishiba and Minister @ryosei_akazawa worked hard with our trade team to secure this mutually beneficial partnership, for which we… pic.twitter.com/77f9xhgLQn
— Treasury Secretary Scott Bessent (@SecScottBessent) July 23, 2025
OTHER RECENT TRADE DEALS
Indonesia
Indonesia and the United States have reached an agreement to remove approximately 99% of tariff barriers on US goods, as announced by the White House in a statement published on Tuesday.
In return, Washington will reduce the levies imposed on Indonesian goods from 32% to 19%.
Certain Indonesian products that are not naturally available or domestically produced may receive lower tariffs, and both countries will address Jakarta’s non-tariff barriers, facilitating easier trade for US companies to ship goods into Southeast Asia’s largest economy.
Philippines
The US would impose a 19% tax on imports from the country. Trump said the new tariff is part of a broader agreement.
The Philippines will remove duties on US goods.
The deal will also foster military cooperation between the two nations.
The Philippines has not officially confirmed the details of this agreement.
The Philippines, a small trade partner with the US, exported about $14.2 billion worth of goods last year, including car parts, electric machinery, textiles, and coconut oil.
READ MORE AT FOX BUSINESS.
