WASHINGTON D.C. – The ink is set after President Trump signed the US-Japan trade agreement at the White House. It's a deal he promises will benefit the agricultural economy.
North Carolina Lt. Governor Dan Forest was at the White House for the signing. He says any deal like this is a big deal for American farmers.
"The agriculture industry is our number one industry in the state of North Carolina. It’s an 87 billion dollar industry, and this is a big deal for that,” Forest said.
Eddie Settle was another one representing North Carolina at the White House.
As a farmer himself– Settle says the agreement Trump negotiated will have a large impact in his state.
“We still have a lot of small farms in North Carolina we’re 8th in total agriculture receipts our state is that goes from pork to beef to cattle to corn, wheat and to have another market is huge,” Settle said.
Once the agreement is implemented, over 90% of the U.S. food and agriculture products imported into Japan will either be duty-free or receive preferential tariffs.
Under the agreement, Japan will take actions such as:
- Reducing tariffs on fresh and frozen beef and pork.
- Eliminating tariffs on goods like almonds, walnuts, and corn.
President Trump celebrated the agreement earlier Monday by saying,
“We love our farmers and we love our ranchers, we have been working very hard on this.”
While the deal promises success for American farmers, the deal doesn’t resolve auto trade issues with Japan. President Trump has said the two countries need to work on a more comprehensive agreement in order to accomplish that.