US President Donald Trump announced that a trade agreement has been reached with Tokyo, according to which Japan will pay reciprocal tariffs of 15 percent on goods exported to the US, Reuters reported, quoted by BTA, referring to his post on his social network "Truth Social".
Trump also said that Japan had agreed to make investments of $550 billion in the US, with Washington receiving "90 percent of the profits". The US president did not provide further details on how the agreement will work, DPA notes.
"We just made a massive deal with Japan, perhaps the largest deal ever made," Trump said on his social platform "Truth Social".
The US president added that Japan would expand its market for trade, including cars, trucks, rice and certain agricultural products.
Earlier it became clear that Japanese Prime Minister Shigeru Ishiba would make a decision on his future after assessing progress in tariff negotiations with the US, the newspaper writes in its today's issue. "Yomiuri".
Ishiba is facing growing opposition from within his own Liberal Democratic Party over his pledge to stay in power despite the ruling coalition's heavy defeat in the House of Councillors (the upper house of Japan's parliament) election on Sunday, Reuters notes.
The prime minister plans to hold a news conference to announce his decision once the outcome of the tariff talks is clear, the "Yomiuri" newspaper reported.
Japan's top tariff negotiator, Ryosei Akazawa, is in Washington for the eighth round of talks. Japan's "Asahi" newspaper reported that Akazawa met with US President Donald Trump at the White House on Wednesday.