The United States and Japan announced Wednesday the two nations would seek a free trade agreement. President Donald Trump and Japan’s Prime Minister Shinzo Abe announced they’ll begin negotiations. National Cattlemen’s Beef Association President Kevin Kester says Japan is the U.S. cattle industries number one market and bilateral deals take time to complete so getting started right away is critical.
Kester says having trade pacts with both South Korea which was signed this week and the recent announcement with Japan could possibly push China to come to the negotiating table on the current trade war.
NCBA Director of International Trade Kent Bacus says without a signed trade deal with Japan and with other countries getting ready to implement the Trans Pacific Partnership, U.S. beef exports face high tariffs and a market disadvantage with Japan.
Meanwhile, Ag Secretary Sonny Perdue called the trade talk announcement with Japan and the U.S. proof that President Trump’s approach to trade will benefit the entire U.S. economy, including the agricultural sector.
