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According to Trump, the US and Japan have reached an initial trade agreement



The United States and Japan outlined first details of a trade agreement on Wednesday when they wanted to iron out a broader agreement.

The first phase of the treaty will open up $ 7 billion worth of US agricultural commodity markets, the president said at a signing ceremony with Japanese Prime Minister Shinzo Abe at the United Nations General Assembly. According to Trump, Japan will also lower or end tariffs on products such as beef, pork, corn and wine.

He added that the two nations had committed $ 40 billion worth of digital commerce commitments.

US President Donald Trump and Japanese Prime Minister Shinzo Abe hold a meeting on 25 September 2019 in New York on trade on the sidelines of the United Nations General Assembly.

Saul Loeb | AFP | Getty Images

Trump said in the document signed by the leaders, "the essential steps we take towards becoming a fair and reciprocal trade agreement".

The developing agreement comes about as Trump tries to mitigate the damage by trying to crack down on what he calls unfair global trading practices. In particular, he has tried to empower American farmers as a continuing trade war with China hits the US agribusiness.

Trump's impending tariffs on Japanese cars have made the urge for a new trade agreement difficult. Japan sent $ 51 billion worth of vehicles to the United States in 2018, the largest export category.

Japan was America's fourth largest commodity trading partner last year.


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