President Trump announces long-awaited trade agreement with Japan

President Donald Trump has announced a long-awaited trade agreement with Japan.  As part of the deal, US importers will pay 15 per cent reciprocal tariffs on Japanese goods exported to the United States.  US President Trump on Truth Social said that US and Japan just completed a massive Deal, perhaps the largest Deal ever made. Mr Trump said Japan also will invest 550 billion dollars into the United States. He added that the US will receive 90 per cent of the profits. The US President did not specify how those investments would work or how profits would be calculated. No official term sheet has been released. Now  Japan will open their country to trade, including cars and trucks, rice and certain other Agricultural Products, and other things. The trade agreement comes after months of negotiations with key trading partners like the European Union, South Korea, India and dozens of others at a standstill as Trump’s latest August 1 deadline for higher tariffs looms.