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USA and Japan signed a trade agreement

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Trump signs US-Japan trade deal Description video: The new agreement will focus on agricultural exports and digital trade. USA and Japan signed a trade agreement US President Donald Trump signs a trade agreement with Japan to reopen some markets that […]

Trump signs US-Japan trade deal

Description video:
The new agreement will focus on agricultural exports and digital trade.

USA and Japan signed a trade agreement

US President Donald Trump signs a trade agreement with Japan to reopen some markets that farmers lost access to after the US pulled out of the multilateral Asia-Pacific pact in early 2017.

«I think our relationship with Japan has never been better than it is now», – Trump said at a press conference, positioning the deal as a clear success for farmers and pastoralists of the country.

«This is a huge victory for both of our nations.. The deal will create countless jobs, expand investment and trade, substantially reduce our trade deficit, promote fairness and reciprocity, and open up ample opportunities for growth.», – he added.

At the UN General Assembly, Japanese Prime Minister Shinzo Abe told reporters that Trump had assured him that the previous agreement to free Japan from new car tariffs was still in effect..

The pact also includes a $ 40 billion commitment to open a digital trade market between the two countries..

US officials estimate that the deal will cut tariffs on US agricultural products worth about $ 7 billion, including cheese, wine, beef, pork, wheat and almonds.. 

Donald Trump sees this as one of the solutions to the problem of Chinese trade practices, which does not suit Washington. However, critics believe that American allies should also be involved in this process.. 

USA and Japan signed a trade agreement

The agreement was tentatively announced in August. Last month, on the sidelines of the UN General Assembly in New York, the United States and Japan signed an agreement in principle. On October 7, the parties completed the final stage of the transaction.