Japan will invest $550 billion in the U.S. and allow the U.S. to tax Japanese goods sold in America at 15 percent.

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

President Trump said on Tuesday that the trade deal he struck with one of America’s closest allies would impose a 15 percent tariff on Japanese exports.