Home Indiana Agriculture News White House Sends Formal Announcement of Agreement with Japan

White House Sends Formal Announcement of Agreement with Japan

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The White House has notified Congress it will sign a trade agreement with Japan. President Donald Trump notified lawmakers he will enter an agreement on tariffs and digital trade with Japan, as the two sides wrap up the talks still this month. The White House published the notice Monday evening. Trump told lawmakers he is “pleased to report that my administration has reached an initial trade agreement.” The agreement is expected to be signed along the sidelines of the United Nations General Assembly in New York this month. The agreement does not need approval from Congress and can go into effect immediately. The agreement will mostly lower tariffs on U.S. ag products, to levels granted to other exporters to Japan in the Comprehensive and Progress Agreement for Trans-Pacific Partnership.

The lower tariffs will allow U.S. farmers to better compete in the Japanese market. Top U.S. agricultural exports to Japan currently include beef, corn, pork, soybeans and wheat, totaling $13 billion last year.