Another trade war is the last thing investors would want to witness. Hoping for the officials to reach a common platform, all eyes are on the two-day meet between Japan’s Minister of Economy Toshimitsu Motegi and U.S. Trade Representative Robert Lighthizer.
“Trade-wise, I think we will be announcing some things probably in August that will be very good for both countries,” said Trump at a news conference held in Tokyo on May 26. The importance of this two-day meeting is immense for both the countries. Japan and the United States will be trying to reach a common ground for tariffs on agricultural products, including beef, pork, and wheat and auto parts
Trump’s Bargain Points
President Trump has been trying to revitalize the agricultural sector, which has been massively hit by his America first propaganda . It is worth noting that the U.S. farm lobby holds major influence in Washington and with the 2020 Presidential Elections in sight Trump is trying hard to come to a consensual decision with his Japanese counterpart .
Japan is a very large market for U.S. agricultural exporters . In 2018, the United States exported around $13 billion worth of agricultural products to Japan, which stood out to be the third-largest agricultural export market. U.S. farmers have been facing disadvantages and competitive pressure since Trump opted out of the Trans-Pacific Partnership .Read More
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