President Donald Trump said the US and Japan have struck a deal that will lower the hefty tariffs Trump had threatened to impose on goods from its Asian ally while extracting commitments for Japan to invest $550 billion in the US and open its markets to American goods, Report informs via Reuters.
The agreement - including a 15% tariff on all imported Japanese goods, down from a proposed 25% - is the most significant of the string of trade deals the White House has reached ahead of an approaching August 1 deadline for higher levies to kick in.