U.S. President Donald Trump announced a huge trade deal with Japan that will reduce tariffs from 50% to 15%.

Trump stated that Japan will invest $550 billion in the United States, from which the U.S. will receive "90% of the profits."

"Japan will open its country to trade including cars, trucks, rice, and some other agricultural products, and other things. Japan will pay reciprocal tariffs to the U.S. at 15%," Trump said in a social media post.