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Oct. 7 (UPI) — U.S. President Donald Trump on Monday announced the signing of a pair of trade deals with Japan regarding agricultural exports and digital trade.
Trump announced the deals in the Roosevelt Room of the White House describing them as a “very strong and groundbreaking achievement” for the United States and Japan.
“These two deals represent a tremendous victory for both of our nations,” Trump said. “They will create countless jobs, expand investment in commerce, reduce our trade deficit very substantially, promote fairness and reciprocity and unlock the vast opportunities for growth.”
The United States-Japan Trade Agreement will eliminate or reduce tariffs on about $7.2 billion in United States agricultural exports including beef, pork, poultry, wheat, cheese, wine ethanol and more.
Upon implementation, more than 90 percent of U.S. agricultural imports into Japan will be duty-free or receive preferential tariff access.