Trump said the U.S. will impose a 15% tariff on Japanese imports under the agreement, which he hailed as "maybe the largest deal in history."

That's down from the 25% levies he proposed earlier this month. Japan's prime minister says duties on autos from his nation will be cut to 15% from 25%.

President Trump has struck a new trade deal with the European Union that will impose a 15% tariff on most goods from the EU, a reduction from previously threatened tariffs had a deal not been reached.