Asian shares have rallied, with Tokyo's benchmark Nikkei 225 index up more than 3% after Japan and the U.S. announced a deal on President Donald Trump's tariffs.

Japan will invest $550 billion into the U.S., and goods from the country will be subject to a 15% tariff, President Trump said. Japan has not commented on the reported deal.

WASHINGTON/TOKYO (Reuters) -The United States and Japan struck a deal to lower the hefty tariffs President Donald Trump threatened to impose on goods from its Asian ally that included a $550 billion package of U.S.-bound investment and loans from Tokyo.