President Donald Trump says he wants to slash the U.S. trade deficit with Japan. Trump made the comments as he welcomed Japanese Prime Minister Shigeru Ishiba to the White House on Friday for their first face-to-face meeting.

At a joint press conference, the U.S. president said Japanese steel company Nippon Steel is dropping its acquisition of U.S. Steel in favor of an investment.

After a Japan-US summit meeting in Washington D.C., Japan’s prime minister Shigeru Ishiba has expressed his intention to invest $1 trillion into the United States — an “unprecedented” level, according to the PM.