Trump said the U.S. and Japan had struck a trade deal that includes a lower 15% tariff that will be levied on U.S. imports from the country, including autos.

Asian shares have rallied, with Tokyo's benchmark Nikkei 225 index up more than 3% after Japan and the U.S. announced a deal on President Donald Trump's tariffs.

Japan will invest $550 billion into the U.S., and goods from the country will be subject to a 15% tariff, President Trump said. Japan has not commented on the reported deal.