During the United Nations General Assembly in New York, President Donald Trump and Japanese Prime Minister Shinzo Abe announced the first stage of the new trade agreement between the U.S. and Japan. This agreement would level the playing field for U.S. agricultural products against competitors. “Japan will open new markets to approximately $7 billion in American agricultural products,” said Trump. “Japanese tariffs will be significantly lower or eliminated entirely for U.S. beef, pork, wheat, cheese and wine. It’s a huge victory for America’s farmers and ranchers and that’s very important to me.” In the next two weeks, the two countries will work out more details. The first stage of the agreement is expected to be finalized by January 2020. The agriculture-related provisions of the agreement can be found here.
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