A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Tuesday, June 18, 2024

US, Japan ink trade agreements

(Washington) – US President Donald Trump hailed a banner day for American farmers, announcing two trade agreements with Japan that he said would deepen economic ties in agriculture and digital commerce.

The trade deals, which were formally unveiled last month on the sidelines of the UN General Assembly in New York, come as Trump renews far more fraught negotiations later this week with China.

Trump´s trade wars have since last year profoundly disrupted trade ties for US farmers, who have borne the brunt of China´s retaliation.

US soybean exports to China have risen in recent weeks, however.

“These deals are a tremendous victory for both our nations,” Trump said Monday of the new US-Japan agreements.

“We love our farmers and our ranchers. We have been working hard on this.”

Under the agreement, Japan will cut tariffs for $7 billion in US farm exports, including beef and pork, while reducing mark-ups on purchases of American wheat and barley.

In return, Washington has agreed to cut US tariffs on $40 million in Japanese agricultural goods and to ease tariff rate quotas on the country´s beef, allowing Japan to compete for a greater share of the US market.

In a separate agreement, US and Japanese officials have also agreed to eliminate duties on digital products like videos, music and ebooks as well as to ensure cross-border that data transfers are barrier-free.

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.

RELATED ARTICLES

Sheikh Mohammed Bin Zayed attends G7 Summit

His Highness Sheikh Mohamed bin Zayed Al Nahyan of...

UK Polls suggests declining popularity of PM Rishi Sunak’

Three new British opinion polls released Saturday spell trouble...

HH Sheikh Mohammed Meets British Prime Minsiter

President His Highness Sheikh Mohamed bin Zayed Al Nahyan...

UAE & Turkish Presidents exchange Eid Greetings

UAE President His Highness Sheikh Mohamed bin Zayed Al...

Princess of Wales arrives for public appearance

Princess Kate, Britain's Princess of Wales, delighted crowds at...

Sheikh Mansoor Bin Zayed & Crown Prince receive Eid greetings.

His Highness Sheikh Mansour bin Zayed Al Nahyan and...

UAE & Azerbaijan expand Economic Ties

Undersecretary of the Ministry of Economy, H.E. Abdullah Ahmed...

Secretary of State Blinken meets Indonesian Minsiter

Indonesian Defense Minister Prabowo Subianto met with US Secretary...

Labour Party’s election plans boost Markets

Britain's Labour party reveals manifesto for July 4 election,...