U.S. President Donald Trump has announced that the United States has reached trade agreements with Japan and the Philippines, an apparent breakthrough in his ongoing trade war efforts.
Speaking on Monday, Trump described the deal with Japan as “massive,” claiming it would bring in as much as $550 billion (about £407 billion) into the U.S. economy. Japan is one of America’s largest trading partners and any major trade shift could have significant global implications.
Trump also revealed new terms in a separate agreement with the Philippines, which include a 19% U.S. tax on imports from the Southeast Asian country, while Manila will remove duties on American goods in return.
In addition, the former president offered more information on a trade deal with Indonesia that had been briefly announced last week.
