President Donald Trump stated Wednesday that the United States and Japan have reached a limited trade deal in the midst of continued negotiations for a more thorough agreement.
Most notably,$ 7 billion in agricultural productsfrom the United States will become available while Japan will cut or remove tariffs on such products. Furthermore, the U.S. and Japan have agreed to $ 40 billion worth of digital trade.
Playing Hardball
The announcement comes via a signing ceremony at the United Nations General Assembly with Japanese Prime Minister Shinzo Abe, where President Trump stated that the signed document makes impressive strides towards an equitable trade arrangement.
The trade agreement comes after President Trump previously threatened tariffs on the island country vehicles – a stern tactic, given that the United States imported $ 51 billion in Japanese automotive exports last year.
As noted by CNBC ,Japanwas the United States’ fourth-largest trading partner in 2018
US-China Trade War Could End ‘Sooner Than You Think’
Meanwhile, the trade war between the US and China may soon be coming to an end – at least, according to President Trump, whostated:
They want to make a deal very badly … It could happen sooner than you think.
According to some analysts and commentators, President Trump indeed has the upper hand in the 15 – month-long trade war East Asian country – which saw its industrial production fall toa 17 – year lowin July of this year.
The US president also has the approval of the American people when it comes to trade with China, with 67% of respondents in anAugust Harvard / CAPS Harris Pollexpressing that China’s unfair trade policies must be dealt with.
Trump’s limited trade deal with Japan will certainly be chalked up as a win for the president currently facingcalls for impeachmentfrom his opponents across the aisle, and will likely put more pressure on China to accept the terms being outlined by the United States.
Last modified (UTC): September 25, (5) 41 PM
September 25, 2019 6: 00 PM
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