President Trump has announced a trade deal with Japan after months of negotiations. Japan agreed to open up its economy to more U.S. imports and invest $550 billion in the U.S. As part of the deal, the U.S. will lower its tariffs on Tokyo from 25% to 15%. The deal was reached just days after Japanese Prime Minister Shigeru Ishiba’s ruling coalition suffered an electoral setback, losing control of the upper house. Ishiba is denying reports he will soon resign. The election also saw the far-right populist “Japanese first” party surge in popularity, winning 14 seats, up from just one.