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President Donald Trump announced a handful of new trade agreements Tuesday, including a "massive" deal between the U.S. and Japan.The agreements come just before Trump imposes new tariffs on most trade partners before next week's self-imposed Aug. 1 deadline.In the newly announced deal, the Trump administration said the U.S. will tax Japanese goods at 15%, a sizable drop from the original 25% rate. "I just signed the largest trade deal in history," Trump said at a dinner with lawmakers Tuesday evening. "I think maybe the largest deal in history with Japan."In an online post, Trump said the agreement would create hundreds of thousands of jobs through boosted domestic manufacturing."There has nothing been anything like it," he wrote.Trump added that Japan would invest $500 billion in the U.S. and import more American vehicles and agricultural products, such as rice. Japan, which has the fourth-largest economy, is the fifth-largest country from which the U.S. imports. While the U.S. primarily imports Japanese vehicles and electronics, it remains unclear whether cars will be taxed at 15% or the 25% rate Trump said would apply to all autos and parts made outside the U.S.Trump also announced agreements with smaller trade partners Indonesia and the Philippines, which will each face 19% import taxes.But tariffs remain unsettled with one of the United States' largest trade partners: China.While speaking to reporters Tuesday, Trump appeared optimistic about ongoing talks with the country and hinted at a potential visit soon. He highlighted the resumed trade of rare earth metals with China, as the administration recently allowed an American computer chip maker, Nvidia, to sell products in China. Most Chinese goods are currently taxed at 30%, but tariffs are set to increase to over 100% if a deal is not reached before Aug. 12. Treasury Secretary Scott Bessent said Tuesday he expects the deadline to be extended once again.Watch the latest coverage on tariffs: