Trump Announces Trade Deals with Japan and Philippines

President Trump announced a massive trade agreement with Japan, calling it “perhaps the largest Deal ever made.”

Japan will invest $550 billion in the US and face 15% tariffs on imports while opening its markets to American automobiles and agricultural products. The yen initially rose on the news.

Trump also reached a trade agreement with the Philippines, his fourth such deal following the UK, Vietnam, and Indonesia. The US will impose 19% reciprocal tariffs on Filipino goods (reduced from a threatened 20%), while the Philippines will eliminate all tariffs and fully open its markets to American imports, highlighting US negotiating dominance.

This is a developing story.