U.S. and Japan Ready to Finalize Trade Agreement

(BIARRITZ, FRANCE) As leaders from the largest economies in the world gathered in France over the weekend for the G7 Summit, negotiators from the United States and Japan were finalizing a trade agreement. President Trump and Prime Minister Abe made the announcement on Sunday afternoon, saying the two sides had reached the agreement in principle and were now working to put the deal on paper. For the U.S., Trump believes the new agreement will be important for farmers and ranchers. “One of the things that Prime Minister Abe has also agreed to is we have excess corn in various parts of our country, with our farmers, because China did not do what they said they were going to do”, Trump explained. “And Prime Minister Abe, on behalf of Japan, they’re going to be buying all of that corn. And that’s a very big transaction. They’re going to be buying it from our farmers.” Reuters reports that Japan imports about $14 billion worth of U.S. agricultural products, and the agreement will open up markets to over $7 billion of such products. U.S. Trade Ambassador Robert Lighthizer said that beef, pork, wheat, dairy products, wine, and ethanol would benefit.