The president said on Tuesday that the trade deal he struck with one of America’s closest allies would impose a 15 percent tariff on Japanese exports.

Donald Trump said the US had agreed a “massive” trade deal with Japan that will impose 15 per cent tariffs on goods imported into America from the world’s fourth-largest economy.

Japanese Prime Minister Shigeru Ishiba plans to announce his resignation by the end of next month, the Mainichi newspaper reported on Wednesday.

U.S. President Donald Trump on Tuesday said the U.S. and Japan have struck a deal that will lower the hefty tariffs Trump had threatened to impose on goods from its Asian ally while extracting commitments for Japan to invest $550 billion US in the United States and open its markets to American goods.

President Donald Trump on Tuesday said he had cinched a trade deal with Japan, reducing the tax he had planned to levy on imports from a major trading partner as the deadline he has imposed for negotiations over tariffs nears.

US President Donald Trump announces a trade deal with Japan that he says will result in Japan investing $US550 billion ($842 billion) into the United States and paying a 15 per cent reciprocal tariff.

Under the new trade deal, Japan has agreed to impose 15 per cent reciprocal tariffs, compared to the 25 per cent the US had threatened earlier this week

President Donald Trump said yesterday that the United States had agreed to a “massive” trade deal with Japan that would include a 15 per cent tariff

Akazawa is visiting Washington to hold further talks with the United States, as Tokyo hopes to clinch a deal by an August 1 deadline that will avert Trump's tariff of 25% on imports from Japan. Earlier on Tuesday,