AGREEING TO NEW DEALS: President Donald J. Trump has reached agreements to modernize and strengthen our trade relationship with Japan.
- Today, President Trump and Prime Minister Shinzo Abe of Japan reached two agreements to rebalance trade between our two great nations.
- These agreements achieve concrete outcomes from negotiations, which were launched at last year’s meeting of the United Nations General Assembly.
- Under a market access agreement, Japan will open their markets to approximately $7 billion in American agricultural exports and more.
- Japan is one of America’s most important trading partners and this agreement will serve to enhance our robust two-way trade.
- In the months ahead, the United States will engage in further negotiations in the interest of achieving a final, comprehensive trade deal.
REBALANCING TRADE: In reaching these agreements, President Trump is continuing to deliver on his promise to achieve fair, reciprocal, and balanced trade that benefits the United States.
- President Trump has made reducing trade deficits and promoting American-made products a priority for his Administration.
- The new agreements with Japan include numerous benefits that will level the playing field for America’s farmers, businesses, and workers.
- Under the market access agreement, Japan will eliminate or significantly lower tariffs for American beef, pork, poultry, wheat, cheese, wine, certain nuts and berries, cherries, ethanol, and more – a major win for our farmers, ranchers, and growers.
- America’s agricultural community will now be able to compete more effectively in Japan against global competitors.
- A separate deal also was reached that includes robust commitments on digital trade, which will greatly expand commerce across our modern industries.
- In all, this deal will expand trade and substantially reduce our trade deficit.
NEGOTIATING BETTER, FAIRER TRADE DEALS: This agreement builds on President Trump’s successes negotiating better trade deals for the American people.
- President Trump has achieved unrivaled success in negotiating better trade deals that promote American workers and industries.
- The President has prioritized addressing the disaster that is NAFTA by replacing it with the far superior United States–Mexico–Canada Agreement (USMCA).
- The independent International Trade Commission has found that USMCA will spur the creation of 176,000 jobs and add $68.2 billion to the United States economy.
- Last September, President Trump significantly improved our free trade agreement with South Korea, doubling the number of American autos that can be exported to South Korea that meet United States safety standards and eliminating other barriers to American exports.