U.S. President Donald Trump and Japanese Prime Minister Shigeru Ishiba on Wednesday said they had struck a trade deal that will include a 15% tariff on U.S. imports from Japan. Here's what we know so far.

The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1.

President Donald Trump announced a trade deal July 22 with the Philippines, hours after the leader of the country paid a visit to the Oval Office ahead of an Aug. 1 reciprocal tariffs deadline. The Southeast Asian country would pay a 19% tariff, Trump said.