UPDATE - Trump announces 'massive' trade deal with Japan

ADDS MORE REMARKS BY TRUMP

By Diyar Guldogan

WASHINGTON (AA) - US President Donald Trump announced a "massive" trade deal Tuesday with the world’s fifth largest economy, Japan.

"We just completed a massive Deal with Japan, perhaps the largest Deal ever made.

"Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits," he wrote on his Truth Social platform.

Trump said the deal will create hundreds of thousands of jobs and that Japan will open their country to trade, including cars, trucks, rice and certain agricultural products.

"Japan will pay Reciprocal Tariffs to the United States of 15%,” he added.

"This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan.”

- US to finalize deal with Japan on LNG in Alaska

Japan's top tariff negotiator, Ryosei Akazawa, met with Trump at the White House earlier Tuesday, according to media reports.

He also reportedly held talks with US Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.

Trump, while addressing Congressional Republicans at the White House, said he signed "the largest trade deal in history" with Japan.

He also announced that the US will finalize a deal with Japan concerning liquefied natural gas (LNG).

"I said to the Japanese trade representatives, and these were the top people...We concluded the one deal and now we're going to conclude another one because they're forming a joint venture with us in Alaska for the LNG," he said.

Trump also hinted at a flurry of upcoming negotiations, suggesting that talks with European leaders and other countries are imminent.

"We have Europe coming in tomorrow and the next day, and we have some other ones coming in," he said.