The White House: President Trump signs ‘game-changing’ trade deal with Japan
During the U.N. General Assembly last month, President Trump continued to fight for fairer trade deals for American workers. The results of that hard work came to light Monday, when the President signed a pair of groundbreaking deals at the White House.
“These two deals represent a tremendous victory for both of our nations,” President Trump said. “They will create countless jobs, expand investment and commerce, reduce our trade deficit very substantially, promote fairness and reciprocity, and unlock the vast opportunities for growth.”
🎬 President Trump: This is a groundbreaking achievement for the U.S. and Japan
America’s farming community is the big winner from the first of Monday’s agreements, which dramatically expands their market access. Before this deal, Japan was already America’s third largest agricultural export market—accounting for $14.1 billion in food and agricultural exports last year. The terms are even better now, as Japan will eliminate or reduce tariffs on approximately $7.2 billion in U.S. agricultural goods.
Once the agreement goes into effect, more than 90 percent of American agricultural imports into Japan will be duty free or receive preferential tariff access.
“In the United States, these deals are a game-changer for our farmers and our ranchers . . . [they] will now be able to compete fairly in Japan against major competitors worldwide,” the President said.
The second deal signed on Monday focuses on digital trade, setting the same “gold standard” digital trade rules that are found in the President’s landmark United States–Mexico–Canada Agreement (USMCA). Vital online commerce will now be expanded, which brings a significant boost to the already roughly $40 billion worth of digital trade between America and Japan. It ensures America will remain a global leader in digital.
The President’s deal with Japan is a win for American farmers and businesses.