homepolitics NewsUS, Japan sign limited trade deal, leaving autos for future talks

US, Japan sign limited trade deal, leaving autos for future talks

US, Japan sign limited trade deal, leaving autos for future talks
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By Reuters Sept 26, 2019 9:54:50 AM IST (Published)

Trump said the first-phase deal would open up Japanese markets to some $7 billion worth of US products annually, cutting Japanese tariffs on American beef, pork wheat and cheese.

US President Donald Trump and Japanese prime minister Shinzo Abe signed a limited trade deal on Wednesday that cuts tariffs on US farm goods, Japanese machine tools and other products while further staving off the threat of higher US car duties.

Trump said the first-phase deal would open up Japanese markets to some $7 billion worth of US products annually, cutting Japanese tariffs on American beef, pork wheat and cheese.
Although the agreement does not cover trade in autos, Abe said he had received reassurance from Trump that the United States would not impose previously threatened “Section 232” national security tariffs on Japanese car imports.
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