President Donald Trump says he's reached a trade deal with Japan that will set tariffs on Japanese imports at 15% and see Japan invest $550 billion into the U.S.

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Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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President Trump has stated that the United States has reached a new trade agreement with Japan, describing it as the largest trade deal in history. The deal reportedly includes a reduction of tariffs on Japanese goods entering the U.S. from 25% to 15%, particularly affecting the auto sector, which is a major component of Japan's trade surplus with the U.S. Japanese automakers such as Subaru, Mazda, and Toyota have seen positive market reactions, though full details of the agreement have not yet been disclosed.

Japanese media report that the deal also involves an increase in U.S. rice imports to Japan and a $550 billion investment from Japan into the U.S., including a joint venture for the Alaska LNG project. Japanese Prime Minister Ishiba has indicated that he is awaiting further details of the agreement, which comes at a time of domestic political challenges following a recent electoral defeat. The implications for sensitive sectors like rice and the broader Japanese economy remain to be clarified as more information becomes available.

Trump says he's reached trade deal with Japan

So President Trump says he has reached a trade deal with Japan, will be setting cash at 15% and see Washington's major Asian ally invest $550 billion in the U.S. I just signed the largest trade deal in history. I think maybe the largest deal in history with Japan. We worked on it long and hard and it's a great deal for everybody. I always say it has to be great for everybody. It's a great deal. A lot different from the deals in the past. I can tell you that. Sherry I'll start with you. This seemed to be catching the market a bit by surprise. How positive is this news? We have seen the Japanese yen gain ground and reverse earlier losses. We're seeing JGB yields rising and obviously stocks. You mentioned some of those automakers, you mentioned Subaru, for example, that has more than 70% of its global sales going to the United States. We had Mazda as well, Toyota also seeing its best day since August of last year. So markets are pretty impressed with the deal so far, but the details are still pretty scarce. What we've heard from President Trump, as we heard from him earlier, is that this would be a historic deal. What do we know so far? That it will be 15% on Japanese goods going into the United States. Domestic media, NHK, reporting that that will include 15% tariffs on Japanese autos. That would be coming down from 25%. Those 25% tariffs were expected to have a $19 billion impact on major Japanese carmakers. So that's a sigh of relief if we actually do get that confirmed. Prime Minister Ishiba coming out earlier today saying that even he needs to see the details of these agreements. So we're still watching out for that. We're also watching what happens to rice because, of course, that's a very sensitive and symbolic sector here in Japan. And NHK also reporting that Japan is set to increase the import ratio of U.S. rice. Not necessarily talking about tariffs, because remember, if you bring down the tariff rate for rice, what is the competitive advantage of the U.S. could be a big question. So far, we know that, for example, last year, U.S. imports of rice were about 40% of total imports into Japan. So we'll be watching what this actually means when it comes to this very sensitive sector for the Japanese public. We also have some details about a $550 billion investment into the United States, and we heard from President Trump that that will include a joint venture with Japan for the Alaska LNG project. Sherry, how does he sell this now in Japan domestically as a win? It is going to be a net positive for the Japanese economy. I talked about the impact on the auto sector, and the auto issue was a big one because when it comes to the Japanese trade surplus against the U.S., 80% of that included cars. So including cars in this deal, that could mean bringing U.S. cars into the U.S. Although that could be a concession, it could also be just good news for the broader economy. Of course, Prime Minister Ishiba, as you said, needs to sell this because he's also just suffered a historic defeat when it comes to the upper house election over the weekend. And he is now preparing to have discussions with opposition parties about other key issues domestically like bringing down the sales tax at the moment. Whether that's a temporary or permanent reduction, of course, is a key question. Will he need to make more concessions? Cost of living was a big issue. Rice is a big part of that. We will wait for details when it comes to those rice imports from the U.S., but we know that rice prices are still higher, about 60% already from last year. So what the implications are for the broader Japanese economy, that's how Prime Minister Ishiba will try to sell this to the domestic public. But of course, given his historic defeat, I have heard from my colleagues, for example, Paul Jackson, saying that this could be the leverage that the Prime Minister has to keep his job because he's vowed to stay in power despite the fact that he suffered this big defeat for his ruling LDP. Now that there's a trade deal, what will happen to the Prime Minister is a key question. The last three LDP leaders that have lost the upper house election have had to quit in the next two months.

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Trump says he's reached trade deal with Japan

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