The U.S.-Japanese Bilateral Trade agreement was signed this week by President Donald Trump and Japan’s Prime Minister Shinzo Abe. Iowa Agriculture Secretary Mike Naig who attended the signing ceremony says this is much needed good news on the trade front and should be the catalyst for other future trade pacts.
He says the Japan US trade agreement phases in tariff reductions on U.S. ag products and puts America on a level playing field with other countries doing business with Japan.
Naig says the signing means the U.S. and Japan have a deal on agriculture and will work out other details for a full fledged free trade agreement in the near future.
Naig says with this week’s deal, the U.S. not only preserves the market it already has in Japan but also will see increased growth in that going forward.
