Japan will invest $550 billion into the U.S., and goods from the country will be subject to a 15% tariff, President Trump said. Japan has not commented on the reported deal.

President Donald Trump on Tuesday said he had cinched a trade deal with Japan, reducing the tax he had planned to levy on imports from a major trading partner as the deadline he has imposed for negotiations over tariffs nears.

Trump's announcement made no mention of easing tariffs on Japanese automobiles, which account for more than a quarter of all the country's exports to the United States and are subject to a 25% tariff.