President Donald Trump signed an executive order on Thursday implementing the U.S.-Japan trade agreement, the White House said.
"Under the Agreement, the United States will apply a baseline 15% tariff on nearly all Japanese imports entering the United States, alongside separate sector-specific treatment for automobiles and automobile parts; aerospace products; generic pharmaceuticals; and natural resources that are not naturally available or produced in the United States," the executive order reads.
"Japan, meanwhile, will provide American manufacturing, aerospace, agriculture, food, energy, automobile, and industrial goods producers with breakthrough openings in market access across key sectors," it read.
Japan has also agreed to invest $550 billion in the United States.
"These investments — which will be selected by the United States Government — will generate hundreds of thousands of United States jobs, expand domestic manufacturing, and secure American prosperity for generations," the EO said.