US President Donald Trump announced a "massive" trade deal with Japan, including a 15% tariff on Japanese exports to the US, down from a previously threatened 25%. Trump claimed the deal also includes US$550 billion in Japanese investment into the US, with the US receiving 90% of profits, and that Japan will open its market to US cars, trucks, rice, and other agricultural products.

Japanese Prime Minister Shigeru Ishiba stated he needs to examine the details of the agreement before commenting. The news led to a rise in Japan's Nikkei index and Japanese auto stocks. This agreement comes as Ishiba faces political pressure after his coalition recently lost its majority in Japan's upper house election. The deal helps Trump meet an August 1st tariff deadline, following similar agreements with the Philippines and Indonesia.