Japan, U.S. a step closer to ink new trade deal

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Japan, U.S. a Step Closer to Ink New Trade Deal

Japan and the United States are close to signing a trade deal in New York next month after both parties agreed in principle on trading.

Prime Minister Shinzo Abe and President Donald Trump would rebuild trade partnerships and solve trade curbs, just in time before the U.S. – China trade sparks fly.

Robert Lighthizer, U.S. Trade Representative said that the agreement covered agriculture, industrial tariffs, and digital trade.

“It’s a very big transaction, and we’ve agreed in principle. It’s billions and billions of dollars. Tremendous for the farmers,” Trump said during an interview in France at the G7 conference.

Trump was pertaining to Japan’s vow to buy excess U.S. corn of American farmers as they fell victim to the tariff clashes between the U.S. and China.

“We believe that there is a need for us to implement emergency support measures for the Japanese private sector to have the early purchase of the American corn,” said Prime Minister Abe.

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