Beef and pork stole much of the spotlight when President Donald Trump and Japanese Prime Minister Shinzo Abe signed off on a trade pact last week, but many of the U.S. winners will be American specialty crop farmers.
Japan agreed Wednesday to cut or eliminate tariffs on $7.2 billion worth of U.S. ag commodities and erect new quotas under a trade deal that U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe signed Wednesday.
President Donald Trump on Sunday confirmed that the U.S. and Japan have reached a preliminary deal to lower Japanese tariffs and increase market share for U.S. agricultural commodities. The deal, as reported Saturday by Agri-Pulse, is already being lauded as a success for farmers by major U.S. ag groups.
U.S. and Japanese negotiators have reached an “agreement in principle” on a trade deal that would lower Japan’s tariffs on U.S. agricultural commodities and spare Japan from threatened U.S. industrial tariffs, sources — confirming reports out of Japan — tell Agri-Pulse.
President Donald Trump highlighted the importance of getting Japan to lower its tariffs on U.S. farm commodities as the two countries hash out a bilateral free trade agreement, a deal he said is progressing very rapidly.
Japan, a nation dependent on imports to feed its people, is cutting tariffs and forging stronger ties around the globe to further open up its markets, but not yet with the U.S., leaving American dairy farmers concerned.
WASHINGTON, July 19, 2017 - The European Union has forged a massive free trade agreement (FTA) with Japan, prompting the U.S. agriculture sector to increase pressure on the Trump administration to do the same with the Asian importing powerhouse.
WASHINGTON, Feb. 10, 2017 - President Trump and Japan’s Prime Minister, Shinzo Abe, will meet at the White House today to discuss a range of issues, including trade. They’ll then head to Florida to spend the weekend together at the president’s Mar a Lago estate.