When Donald Trump's fortunes took a downturn in the 90s and he needed to raise cash fast, he sailed his 282ft (85m) superyacht, the Trump Princess, to Asia hoping he could attract Japan's wealthy. It wasn't the first time the businessman had sought out Japanese buyers or lenders for his projects.

During a bilateral meeting in the Oval Office with Japanese Prime Minister Shigeru Ishiba, President Donald Trump praised billionaire Elon Musk — the head of the U.S. DOGE Service — for “finding tremendous fraud and corruption and waste” within the federal government.

Japanese Prime Minister Shigeru Ishiba expressed optimism on Sunday that his country could avoid higher U.S. tariffs, saying President Donald Trump had "recognised" Japan's huge investment in the U.S.

Mr Trump has made clear that he sees tariffs as a way to incentivise foreign investment in America and boost production at home. “It’s going to mean a lot of businesses are going to be opening in the United States,

Donald Trump will press ahead with a 25 per cent tariff on steel and aluminium exports from all countries, including Australia.