A trade deal with Japan is one of the recent trade agreements that the Trump administration has finalized. Some ag leaders are saying that this new deal with Japan creates a more level playing-field for U.S. trade.
“I think that’s really important to remember, because it wasn’t that long ago where we were at a severe disadvantage tariff-wise,” says Dan Halstrom, President and CEO of the U.S. Meat Export Federation (USMEF).
That new trade deal sets a 15-percent tariff rate on Japanese goods coming into the U.S. President Trump also announced that the deal will increase market access for U.S. ag products.
Halstrom says there was a sense of relief once that new trade deal was announced with Japan, which is the second largest market in the world for U.S. pork and beef exports.
“We saw about $1.9 billion on beef and about $1.4 billion on pork, for a total of about $3.3 billion in sales. And it’s been pretty consistent right in that range,” says Halstrom.
According to President Trump’s executive order, Japan will purchase $8 billion in U.S. corn, soybeans, fertilizer, bioethanol, and sustainable aviation fuel.
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