US President Donald Trump has announced a trade deal with Japan he says will result in Japan investing $US550 billion ($A842 billion) into the United States and pay a 15 per cent reciprocal tariff.

In a post on Truth Social, Trump added that Japan will be open to trade for cars, trucks, rice and certain agricultural products, among other items.

“This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan,” he said.

Trump’s announcement follows a meeting with Japan’s top tariff negotiator, Ryosei Akazawa, at the White House on Tuesday, according to the Asahi newspaper.

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The newspaper also reported that Akazawa held meetings with US Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent.