Trump signs the 'largest deal in history' with Japan

Trump took to Truth Social on Tuesday evening to share details of the deal which comes after Japan’s tariff negotiator Ryosei Akazawa was in Washington for his eighth round of talks.

He said: "We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90 per cent of the Profits.”

"This deal will create hundreds of thousands of jobs - there has never been anything like it."

According to Trump, the deal will see Japan 'open their country' to the trade of American cars and trucks, rice, and other agricultural products.

Japan will also pay reciprocal tariffs of 15 per cent to the US, a 10 per cent reduction of Trump's previously threatened 25 per cent tariff.

Japan's Prime Minister Shigeru Ishiba confirmed the deal.

He said: "Japan's tariff rate, which had been set to increase to 25 per cent on reciprocal tariffs, was kept at 15 per cent. This is the lowest figure to date among countries with trade surpluses with the US.

"The agreement does not include any reduction of tariffs on the Japanese side, including on agricultural products.

"This is precisely the result of my consistent advocacy and strong lobbying of the US since I proposed 'investment over tariffs' to President Trump at our White House summit in February this year."

The deal did not include Japanese exports of steel or aluminium that are still subject to a 50 per cent tariff - there also hasn't been an announcement on defence budgets.

Following Trump's announcement on Truth Social, shares in motor industry giants such as Toyota, Nissan and Honda jumped.