The U.S. and Japan have agreed to impose reciprocal tariffs of 15% on Japanese autos and other exports, down from the 25% rate previously threatened by the Trump administration. President Donald Trump announced the deal, which Treasury Secretary Scott Bessent described as “historic,” on Tuesday via social media, while Japanese Prime Minister Shigeru Ishiba confirmed Tokyo would expand U.S. rice imports within its WTO-approved minimum access quota.

The agreement followed months of negotiation, with Japan seeking to avoid the full brunt of Trump’s “reciprocal tariff” campaign targeting trade surplus countries. Tokyo also reportedly pledged investment in U.S. liquefied natural gas