President Donald Trump announced that the United States has reached a trade agreement with Japan, establishing a 15% tariff on Japanese imports. The deal, described by Trump as "massive," sets reciprocal tariffs on goods exported from Japan to the U.S. This agreement follows Trump's earlier threat to impose 25% tariffs on Japanese exports starting August 1. The new tariff rate represents a reduction from the previously threatened level, signaling a negotiated compromise between the two countries.