WASHINGTON — President Donald Trump on Wednesday inserted himself directly into trade talks with Japanese officials, a sign of the high stakes for the United States after its tariffs rattled the economy and caused the administration to assure the public that it would quickly reach deals.

The Republican president said in a post on his social media platform that he’ll attend the meeting alongside Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, top economic advisers with a central role in his trade and tariff policies.

“Hopefully something can be worked out which is good (GREAT!) for Japan and the USA!” Trump wrote in the social media post.

The president’s choice to get directly involved in negotiations points to his desire to quickly finalize a slew of trade agreements as China is pursuing its own set of agreements. It’s an open test of Trump’s reputation as a dealmaker as countries around the world seek to limit the potential damage unleashed by his import taxes.

The sweeping tariffs that Trump announced on April 2 triggered panic in the financial markets and generated recession fears, causing the U.S. president to quickly put a partial 90-day hold on the import taxes and increase his already steep tariffs against China to as much as 145%.

The pause temporarily spared Japan from 24% across-the-board tariffs, but there continues to be a 10% baseline tariff and a 25% tax on imported cars, auto parts, steel and aluminum exports.

With Japan charging an average tax rate of 1.9% on other countries’ goods and having a longstanding alliance with the U.S., the talks on Wednesday are a crucial indicator of whether the Trump administration can achieve a meaningful deal that reassures the markets, American voters and foreign allies.

U.S. economic rival China, meanwhile, is trying to capitalize on the turmoil around Trump’s announcements, with its leader, President Xi Jinping, touring nations of Southeast Asia and promoting his country as a more reliable trade partner.

Japan is among the first countries to start open negotiations with the U.S. Trump and other administration officials have said the phones have been “ringing off the hook” with dozens of countries calling, eager to strike deals with a president who views himself as a master negotiator to avoid tariffs when the 90-day pause ends. Israel and Vietnam have offered to zero out their tariff rates, but Trump has been noncommittal as to whether that would be sufficient.

On Thursday, Trump is scheduled to meet with Italian Prime Minister Giorgia Meloni, who will likely be carrying messages on behalf of the European Union about how to resolve the tariffs Trump placed on the 27-state group.

Still, the U.S. president may also be feeling increased domestic pressures to settle any tariffs as many voters say they returned Trump to the White House with the specific goal of improving the economy. California Gov. Gavin Newsom filed a lawsuit Wednesday that argues that Trump overstepped his authority by declaring an economic emergency to levy his tariffs, with the Democrat saying in a statement that the tariffs have caused economic chaos.

Federal Reserve Chair Jerome Powell warned on Wednesday that Trump’s tariff policies would hurt the U.S. economy, a direct warning to a White House trying to sell the import taxes as a long-term positive for the country.

“The level of tariff increases announced so far is significantly larger than anticipated, and the same is likely to be true of the economic effects which will include higher inflation and slower growth,” Powell said at the Economic Club of Chicago.

Japan, like many other nations trying to minimize the possible economic fallout from Trump’s tariffs, has been scrambling to respond. It has set up a special task force to assess the impact of the tariffs and offer loans to anxious companies.

Although Prime Minister Shigeru Ishiba has been working hard to coax exemptions out of Trump, the government has said little officially on what concessions it might offer during these talks.