U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi discussed economic and security cooperation during their first summit in Tokyo on Tuesday.

The two leaders emphasized the importance of the long-standing U.S.-Japan alliance at the outset of their meeting, according to Kyodo News, with Takaichi pledging to build a "new golden era" in tandem with Trump.

Takaichi called Washington and Tokyo's partnership the “greatest alliance in the world,” and Trump echoed the sentiment, pledging to make the relationship “stronger than ever before.”

Trump said he is aware that Japan intends to strengthen its defense capabilities and that the nation had recently placed a large order for U.S.  military equipment, adding that he thinks the two leaders will make “tremendous” deals.

Takaichi had earlier vowed to increase Japan's defense spending to two percent of GDP, possibly by March 2026. 

At a ceremony after their summit, the two leaders signed a joint statement focused on the implementation of a trade deal under which Japan has pledged to invest 550 billion dollars in the United States in return for a lower 15 percent tariff, which Trump called a “very fair agreement.”

They also inked a framework agreement for “securing the supply” of rare earths and other critical minerals through mining and processing.

The two leaders later met with family members of Japanese citizens abducted by North Korea decades ago, and Trump expressed his willingness to help the abductees return.

Trump and Takaichi were also expected to visit the Yokosuka naval base on Tuesday afternoon and reaffirm the solidity of the U.S.-Japan alliance by touring the aircraft carrier USS George Washington together.