After months of fraught negotiations with the United States, Japan clinched a deal just days before punitive tariffs were scheduled to take effect.

View PDF After more than three months of formal negotiations and many more months of speculation about the Trump administration’s trade and economic policy toward Japan, Washington and Tokyo have agreed to a trade deal.

Japan's chief negotiator reached an agreement with U.S. Commerce Secretary Howard Lutnick in mid-June on a deal offering massive Japanese investment in the United States in exchange for a reduction in tariffs,

Trump said the U.S. will impose a 15% tariff on Japanese imports under the agreement, which he hailed as "maybe the largest deal in history."

The 15% tax is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1.

WASHINGTON—President Donald Trump is bragging that Japan has given him, as part of a new trade framework, $550 billion to invest in the United States. It’s an astonishing figure, but still subject to negotiation and perhaps not the sure thing he’s portraying.

That's down from the 25% levies he proposed earlier this month. Japan's prime minister says duties on autos from his nation will be cut to 15% from 25%.

Trump previously threatened a 25% tariff on Japan's exports to the United States in his tariff letter to the country earlier this month.

Commerce Secretary Howard Lutnick revealed to the Daily Caller how he negotiated a massive trade deal with Japan on behalf of the Trump administration. President Donald Trump announced on Wednesday via Truth Social that his administration had secured a trade deal with Japan,