Trump claims Japan trade deal, imposes 15% tariff on goods from Asian superpower

President Trump on Tuesday said he struck a trade deal with Japan, a surprise development after the U.S. leader described the Asian country as “spoiled” by years of favorable trade terms with the American market.

The president said he would impose a 15% tariff on Japanese goods entering the U.S., a lower amount than the 25% he threatened in a letter to Prime Minister Shigeru Ishiba.

Mr. Trump said the deal involved $550 billion in Japanese investment in the U.S. and that “90% of the profits” would flow to the American side, though didn’t elaborate.

“This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” he said on Truth Social. “Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things.”

Ryosei Akazawa, Japan’s chief trade negotiator, confirmed on social media Tuesday evening that a deal had been struck.

“I went to the White House in the U.S. Mission accomplished. Sincere thanks to everyone involved,” he wrote on X.

The U.S. had a nearly $70 billion trade deficit with Japan in 2024, meaning the Asian superpower sold a far higher dollar value in products to U.S. consumers versus what Japan bought from American producers.

A deal with Japan had seemed unlikely in recent weeks, as Mr. Trump characterized the other side as coddled and unable to reach a deal.

Japan had been worried about the impact of tariffs on its export-dependent economy, though it managed to negotiate down its tariff amount to something closer to the 10% blanket tariff Mr. Trump is imposing on all exports.

“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,”  Mr. Trump wrote.