In his characteristic way, Trump says his Japan announcement is "massive", describing it as "the largest trade deal in history". He also claims his breakthrough meeting with Philippine President Ferdinand Marcos Jr was "beautiful".

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.

Japan will invest $550 billion into the U.S., and goods from the country will be subject to a 15% tariff, President Trump said. Japan has not commented on the reported deal.