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President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on imports including automobiles from the key American ally, while creating a $550 billion fund to make investments in the US.

The agreement, touted by Trump after he secured breakthroughs in a final 75-minute Oval Office meeting Tuesday with Japanese negotiators, spares the nation from a threatened 25% tariff that was set to take effect next week.

“They had their top people here and we worked on it long and hard, and it’s a great deal for everybody,” Trump said at a White House event Tuesday evening.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Bloomberg Washington Correspondent Tyler Kendall is in for Kailey. Joe and Tyler speak with:

• Bloomberg White House Correspondent Josh Wingrove.
• Democratic Congressman Brendan Boyle of Pennsylvania.
• Senior Counselor to the President and Director of the Office of Trade and Manufacturing Policy at The White House Peter Navarro.
• Republican Senator Bill Cassidy of Lousiana.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.

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