Trade with Japan

One of the few pieces of good news from the G7 Summit in France was a deal the US and Japan made on corn, meaning relations between our two nations is still very strong.

While there are still details to get worked out, the U.S. and Japan have agreed to a framework for a new bilateral trade deal.

Kent Bacus is the Director of Trade and Market Access for the National Cattlemen's Beef Association. He says, "the devil is in the details," but he's still excited about the announcement.

"Last year, Japanese consumers purchased over $2 billion of U.S. beef, accounting for roughly one-quarter of overall U.S. beef exports," said NCBA President Jennifer Houston. "Removing the massive 38.5 percent tariff on U.S. beef will level the playing field in Japan, and we are very thankful to President Trump and his trade team for continuing to fight on behalf of America's ranching families."

The new deal with Japan is also good for American pork producers who have relied on Japan as their biggest market by value.

They had already seen exports slip this year, but the new deal should put them on equal footing again.