President Trump announces major trade deals with Japan, Philippines, and Indonesia

President Donald Trump on Tuesday unveiled what he called a series of landmark trade agreements involving Japan, the Philippines, and Indonesia, signaling a bold shift in America’s global economic relationships.

(CNN) – President Donald Trump on Tuesday unveiled what he called a series of landmark trade agreements involving Japan, the Philippines, and Indonesia, signaling a bold shift in America’s global economic relationships.

At the top of the list: a new pact with Japan, which Trump described as “the largest trade deal in history.” The agreement includes a 15% reciprocal tariff on Japanese exports to the United States and a promise from Tokyo to invest $550 billion into the U.S. economy.

“We’ll receive 90 percent of the profits,” Trump claimed during his announcement, though he did not provide specific details on how the investments would be structured or how profit shares would be calculated.

Trump also confirmed trade agreements with Philippine President Ferdinand Marcos Jr. and Indonesia, both of which include 19% tariffs on imports from those countries while eliminating tariffs on U.S. exports heading in the opposite direction. While Trump touted the deals as wins for American manufacturing and workers, some economists are urging caution, pointing out the lack of transparency around implementation and the potential impact on consumers.

Meanwhile, pressure is mounting for the U.S. and Canada to finalize their own trade deal ahead of an August 1 deadline. Speaking on the matter, Canadian Prime Minister Mark Carney said, “We’re working to get the best deal for Canadians. And that’s the focus now.”