Trump Announces "Massive" Trade Deal with Japan

Former U.S. President Donald Trump on Tuesday announced what he called a “massive” trade agreement with Japan, claiming it could be the largest deal ever signed.

Speaking at the White House, Trump said Japan will invest $550 billion in the U.S., generating 90% of the profits for the U.S. side. The deal, he added, will create hundreds of thousands of jobs and allow for increased trade in automobiles, trucks, rice, and other agricultural products, CE Report quotes Anadolu Agency

Japan, according to Trump, also agreed to a reciprocal tariff of 15% and will soon finalize a joint venture with the U.S. in Alaska for liquefied natural gas (LNG).

Japanese negotiator Ryosei Akazawa met with Trump and top U.S. officials earlier Tuesday. While Trump said the deal was signed, Japan's Kyodo News reported that it is not finalized yet, and Tokyo is still reviewing LNG cooperation terms.

Akazawa said his visit was “successful,” though he clarified the agreement does not include defense-related commitments.