U.S. President Donald Trump welcomed Japanese Prime Minister Shigeru Ishiba at the White House on Friday and said the two countries would work to cut Washington's trade deficit with Tokyo amid escalating trade tensions threatening to rupture the global economy.

U.S. President Donald Trump meets Japanese Prime Minister Shigeru Ishiba for the first time on Friday as two allies wary of China's rise work to boost business and security ties while an escalating trade war threatens to rupture the global economy.

Another sensitive issue Ishiba was expected to address in the leaders’ private talkswas Japan’s Nippon Steel’s efforts to win approval for a $14.1 billion acquisition of the

Trump’s meeting with Japan’s prime minister ended with a tariff warning, but praise from the Japanese side eased tensions.

Prime Minister Shigeru Ishiba is hoping for reassurances Friday that the alliance is still strong. But in this White House, even a meet-and-greet can be a gamble.

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.