05:57 AM EDT, 07/23/2025 (MT Newswires) -- US President Donald Trump announced trade deals with Japan and Indonesia, imposing a 15% tariff on imported Japanese goods and a 19% tariff on products imported from Indonesia.

"We just completed a massive Deal with Japan, perhaps the largest Deal ever made," Trump said in a post on Truth Social on Wednesday.

According to Trump, Japan will invest $550 billion into the US, which will receive 90% of the profits.

Meanwhile, Indonesia will remove 99% of tariff barriers for US industrial, food and agricultural products exported to Indonesia, while the US will impose a 19% tariff on products imported from Indonesia, said a joint statement released by the White House on Tuesday.