(Illustration photo: REUTERS)

Posting on TruthSocial, President Trump said Japan will invest 550 billion USD in the US, and the US will receive 90% of the profits.

e said the deal will create hundreds of thousands of jobs and described it as unprecedented. According to the President, the most important aspect of the deal is that Japan will open its market to products such as cars and trucks, rice, various agricultural goods, and several other items. Under this agreement, Japan will also impose a reciprocal 15% tax on US goods.

The Trump administration had previously sent a notice warning that a 25% tariff would be imposed on Japan if a deal was not reached by August 1. This tariff would be in addition to existing US tariffs on specific sectors, such as aluminum, steel, and imported automobiles.