AP Washington

US President Donald Trump announced a trade framework with Japan, placing a 15% tax on goods imported from that nation. “This Deal will create hundreds of thousands of jobs. There has never been anything like it,” Trump posted on Truth Social, adding the US “will continue to always have a great relationship with Japan.”

The president said Japan would invest “at my direction” $550 billion into the US and would “open” its economy to American autos and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese PM Shigeru Ishiba, said would be levied starting Aug 1.

Trump is seeking to tout his ability as a dealmaker. Key details remained unclear from his post, such as whether Japanese-built autos would face a higher 25% tariff that Trump imposed on the sector.

Meanwhile, Trump said a trip to China might be “not too distant”, raising prospects that the leaders of the world’s two largest economies may meet soon to help reset relations. Also, the EU and Japan alli­e­d to boost economic ties, de­f­e­nding free trade and cou­n­te­ring unfair trade practices as the two sides face growing ch­a­llenges from US and China.