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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, January 29, 2025
Japan agreed Wednesday to cut or eliminate tariffs on $7.2 billion worth of U.S. ag commodities and erect new quotas under a trade deal that U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe signed Wednesday.
White House officials are telling the U.S. ag sector that they are going to win big in the miniature trade pact announced on Aug. 25 after Presidents Donald Trump and Shinzo Abe met on the sidelines of the annual G7 summit, but details are either not being divulged or haven’t yet been nailed down, government and industry sources tell Agri-Pulse.
President Donald Trump on Sunday confirmed that the U.S. and Japan have reached a preliminary deal to lower Japanese tariffs and increase market share for U.S. agricultural commodities. The deal, as reported Saturday by Agri-Pulse, is already being lauded as a success for farmers by major U.S. ag groups.
U.S. and Japanese negotiators have reached an “agreement in principle” on a trade deal that would lower Japan’s tariffs on U.S. agricultural commodities and spare Japan from threatened U.S. industrial tariffs, sources — confirming reports out of Japan — tell Agri-Pulse.
Legislators may get their chance this fall to take back some of the authority on tariffs they gave away more than 50 years ago while also handing a rebuke to President Donald Trump.
The Trump administration’s trade negotiations pick up this week with both China and Japan, while the Agriculture Department starts accepting applications for the latest round of trade assistance being offered to farmers as compensation for the impact of retaliatory tariffs.
A Japanese delegation is coming to Washington next week to resume negotiations on a free trade agreement, U.S. Trade Representative Robert Lighthizer told Agri-Pulse Friday.
President Donald Trump and his top trade negotiator head to the Group of 20 summit in hopes of re-starting negotiations with China before the trade war escalates further while simultaneously making progress in talks with the Japanese on reducing their barriers to U.S. farm exports.
The Trump administration is eyeing next week’s Group of 20 summit in Japan to jump-start negotiations with China and make continued progress toward a deal with the Japanese to reduce their barriers to beef, pork and other U.S. farm commodities.
The White House steps up its campaign to get Congress to approve the U.S.-Mexico-Canada trade agreement this week, dispatching U.S. Trade Representative Robert Lighthizer for hearings on both sides of Capitol Hill.
