T he U.S. and Japan have reached a trade agreement under which the longtime U.S. will face a 15% tariff—down from a previously threatened 25%—President Donald Trump announced on Tuesday, as Japan’s Prime Minister hailed the move as a “new golden era” in the relationship between the two countries.

Donald Trump and Japan reached a trade deal that’ll impose 15% tariffs on imports to the US, including cars, while also creating a $550 billion fund to make investments in America.

Japan also will invest $550 billion dollars into the United States, the president said.