The US and Japan reach a trade deal.
What we've had so far are deals with Vietnam, Indonesia, the Philippines.
These are all important countries,
but Japan is really the first really huge country that President Trump has negotiated a deal with.
He called it one of the biggest deals ever.
Plus, facing more questions about Jeffrey Epstein,
Trump tries to turn the attention on his political enemies, including Barack Obama.
And investors cheer on a new class of meme stocks.
It's Wednesday, July the 23rd.
I'm Azhar Sukri for The Wall Street Journal.
Here is the AM edition of What's News,
the top headlines and business stories moving your world today.
The US and Japan have reached a trade agreement,
with President Trump saying that he will set tariffs on the country at 15%.
In a social media post, Trump said Japan will invest $550 billion in the US as part of the deal,
and that the US will receive 90% of the profits from the investments,
although he did not provide details.
Jason Douglas is our Tokyo bureau chief.
He says in return Japan has agreed to open to trade in a number of sectors which will see the US lower the tariff rate Trump had threatened recently in a letter to the Japanese government.
So those were going to be at 25% when they came in on August the 1st and Japan has negotiated that down to 15%.