President Trump signed an order Thursday to implement a new trade agreement with Japan projected to boost U.S. agricultural sales by $8 billion annually.
Japan, which has averaged nearly $12.9 billion in yearly purchases of American farm goods over the past five years, committed to increasing imports of U.S. rice, corn, soybeans, fertilizer, bioethanol and other agricultural products.
The agreement calls for a 75% increase in U.S. rice procurements through Japan’s minimum access scheme, with expedited implementation aimed at quickly expanding market access for American farmers.
Beyond agriculture, the White House highlighted the broader economic significance of the deal, announcing that Japan has agreed to invest $550 billion in the United States under government direction.
Photo Credit: Successful Farming Website
Comments