US President Donald Trump and Japanese Prime Minister Sanae Takaichi today signed two major agreements on trade and critical minerals in Tokyo. Under the first deal, a 15 per cent tariff will apply to Japanese exports in exchange for 550 billion dollars in Japanese investment in the United States.

The second agreement established a framework to secure the supply of critical and rare-earth minerals through strengthened cooperation in mining and processing. The initiative aims to boost supply chain resilience for materials vital to the production of electronics and advanced technologies. Japan is Trump’s second stop on his five-day Asia tour. Earlier, he was in Malaysia, where he attended the 47th ASEAN Summit and participated in the signing of the Cambodia-Thailand peace deal.