Japan will invest $550 billion in the U.S. and allow the U.S. to tax Japanese goods sold in America at 15 percent.

President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a 15% tariff to be levied on U.S. imports from the country. In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States.

Asian shares rallied on Wednesday, with Tokyo’s benchmark Nikkei 225 index up 3.5 per cent after Japan and the U.S. announced a deal on U.S. President Donald Trump’s tariffs.