The U.S. and Japan on Wednesday reached a limited trade deal that will open Japanese markets to American farm goods and reduce U.S. tariffs on Japanese industrial equipment, bicycles, green tea, and other goods, The New York Times reports. The two countries announced the agreement as President Trump and Japanese Prime Minister Shinzo Abe met on the sidelines of the United Nations General Assembly in New York.
Trump said the deal was a "huge victory for America's farmers, ranchers, and growers," because it would reduce barriers on $7 billion worth of American farm goods. The deal did not include a promise from Trump not to impose threatened new tariffs on imported Japanese cars. Japan had pressed for such assurances, raising concerns the agreement was in jeopardy.
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