Trump and Abe agree on new trade deal that will see Japan slash tariffs on US agricultural imports

Donald Trump and Shinzo Abe agree on new trade deal that will see Japan slash tariffs on U.S. agricultural imports – while still facing taxes on their own auto exports – in triumph for American farmers

Donald Trump and Japanese Prime Minister Shinzo Abe reached a trade deal Sunday at the Group of Seven summit.

The president claimed the deal was favorable to the U.S. and would be beneficial for farmers.

‘This is a tremendous deal for the United States,’ he told press while speaking alongside Abe Sunday from Biarritz, France. ‘It’s really tremendous deal for our farmers.’

President Donald Trump announced Sunday that he had reached a trade deal with Japanese Prime Minister Shinzo Abe that would be ‘tremendous’ for U.S. farmers

Japan and the United States are two of the seven largest economies in the world that take part in the intergovernmental economic organization meeting, and Trump and Abe held a bilateral meeting during the second day of the gathering.

The deal would slash tariffs on U.S. beef, pork and other agricultural imports. He said during the announcement that Japan would be buying a lot of wheat and corn from America.

Trump said the deal was done ‘in principal’ and would be signed at a later date.

The same day he reached the trade deal with the Asian nation, Trump’s press secretary Stephanie Grisham announced the president wished he had hit China with more tough tariffs.

‘President Trump responded in the affirmative – because he regrets not raising the tariffs higher,’ Grisham said.