The Washington administration is ready to make agreements with other countries that would provide for a reduction in US tariffs on their products in exchange for their large investments in the United States, President Donald Trump told reporters on Thursday.

Trump cited as an example the agreements signed between Washington and Tokyo, which he announced on July 22. Under their terms, Japan will invest $550 billion in the United States, and American import tariffs on its products will be 15 percent.

As he detailed, the US agreed to reduce the tariff rate to 15 percent in connection with this. According to him, without the aforementioned investments, US tariffs on Japanese imports would have been 28 percent.

Earlier, Trump and some other officials of his administration had announced that US tariffs on goods from Japan would be set at 25 percent.