BIARRITZ, France – President Donald Trump said Sunday the U.S. and Japan have agreed in principle on a new trade deal that calls for the Japanese to buy U.S. surplus corn.
“We’ve been working on a deal with Japan for a long time, and we’ve agreed in principle,” Trump said during the G-7 summit in southwest France.
Details of the agreement, announced a few hours after a meeting between Trump and Japanese Prime Minister Shinzo Abe, were not immediately available. But U.S. Trade Representative Robert Lighthizer said the deal will open up markets to $7 billion in other products.
Trump said the deal would likely be signed at the United Nations General Assembly meeting in September.
Abe said that while some working remains to be done on the final language of the deal, “we have successfully reached consensus with regard to the core elements related to agricultural and industrial trade.”
Source: USA Today