Trump says Japan will pay 15% tariffs to U.S.

U.S. President Donald Trump has announced that Washington has set a 15 percent tariff on goods from Japan.

As the August 1st deadline looms, the United States will continue to hold talks with trading partners, including South Korea and China.

Lee Seung-jae starts us off.

U.S. President Donald Trump announced on Tuesday that Washington will impose a 15 percent tariff on goods from Japan.

In a social media post, the U.S. leader touted what he called a "massive deal" that would also see Japan invest 550 billion U.S. dollars into the U.S., adding that the U.S. would "receive 90 percent of the profits."

Trump also noted that Japan will open trade to cars and trucks, rice, and "certain" other agricultural products.

Trump also announced on Tuesday that the U.S. will charge a 19 percent tariff on goods from the Philippines.

The figure is a percentage point lower than what was announced in April.

The announcement was made in a social media post, with Trump saying that Washington had reached a deal with Manila, after holding talks with Philippine President Ferdinand Marcos Junior at the White House.

In exchange,.. the U.S. will see zero tariffs on goods going to the Southeast Asian nation.

Meanwhile,.. the U.S. has agreed to lower the tariff imposed on Indonesia from 32 percent to 19 percent.

The U.S. will see virtually no tax on all American goods shipped to Indonesia.

The U.S. will also be exempt from most regulations on automobiles, agricultural products, and pharmaceuticals exports to the Southeast Asian nation.

According to a senior Trump administration official, Indonesia will reduce tariffs to zero percent on over 99 percent of the products from the U.S. and eliminate all non-tariff barriers.

With the U.S. and China still trying to strike a trade deal,.. U.S. Treasury Secretary Scott Bessent announced Tuesday that a third round of trade talks with Beijing is scheduled for next week in Sweden.

Speaking to Fox Business,.. Bessent said that he will be in Stockholm from July 28th to 29th, with his Chinese counterparts, adding that they'll be working out "what is likely an extension."

With Seoul also working to strike a deal with Washington before the August 1st deadline, South Korea's Finance Minister Koo Yun-cheol said Tuesday that he would hold so-called "2+2" high-level trade talks with the U.S. on Friday.

Koo said he and Trade Minister Yeo Han-koo will head to Washington for the talks, involving Bessent and U.S. Trade Representative Jamieson Greer.

Without a trade deal,.. South Korea is set to face 25 percent tariffs on all goods entering the U.S.

Lee Seung-jae, Arirang News.