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

Japan secured a tariff cap and pledged $550B in U.S. investments, with protections on semiconductors and pharmaceuticals under the new trade deal.

Prime Minister Shigeru Ishiba said the landmark tariff agreement reached with the United States “protects Japan’s key interests.”

A US-Japan trade agreement, capping auto and goods tariffs at 15%, is setting a new standard for global trade negotiations. Economists believe this be

Japan will import more rice from the United States but within the existing tariff-free quota, Prime Minister Shigeru Ishiba said on Wednesday, stressing Tokyo's success in protecting the agricultural sector in agreeing a bilateral trade deal.

President Trump will get to decide where to invest Japanese money and the United States will keep 90 percent of the profits, the White House said.