Washington, July 23 -- US President Donald Trump has announced a long-awaited trade agreement with Japan, a framework between allies and major trading partners that appeared elusive just weeks ago.
"We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump said on Truth Social last night.
As part of the deal, US importers will pay 15 percent "reciprocal" tariffs on Japanese goods exported to the United States. Also, Japan will invest US$550 billion dollars into the United States, the president said.
Trump noted that the US "will receive 90 percent of the profits", without elaborating on how those investments would work or how profits would be calculated, reported CNN.
"This Deal will create Hundreds of Thou...