Trump: US, Japan agree on first stage of new trade agreement

Trump: US, Japan agree on first stage of new trade agreement

President Donald Trump has announced the “first stage of a phenomenal new trade agreement” with Japan.

It’s not immediately clear from Trump’s comments on the sidelines of the UN General Assembly what that “first stage” includes.

But Washington and Japan – which is the world’s third largest economy – have been in long, sometimes contentious negotiations on a trade deal.

There’s reportedly been considerable behind-the-scenes wrangling because of Japan’s concern about the possibility of future US tariffs on Japanese auto exports.

Trump says Japan will open new markets to approximately $7 billion in US agriculture products, including beef, pork, wheat, cheese, corn, wine and more.

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