U.S. Secretary of Agriculture Brooke Rollins will be on the road over the next few weeks. She will first stop in the United Kingdom, searching for additional new markets for U.S. crops. Then she will travel to Japan to follow up on President Donald Trump‘s latest trade deal, which is worth half a trillion dollars.
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Rollins Makes the Most of New Trade Deal with Japan
During an exclusive interview with RFD-TV News, Secretary Rollins said she’s hoping this will make up for Trump’s tariff agenda, which led to a strained trade relationship with China, previously one of the top importers of U.S. agricultural products.
“Eight billion [dollars] a year in commitment from Japan to bring in more soybeans, corn, ethanol, et cetera — and that’s just a massive number that’s going to make a huge difference,” Rollins told RFD-TV on Friday. “Of course, we’ve talked a lot about China being our biggest buyer in some of these commodities, and certainly we need China, especially for soybeans and others, right now. But we have to look to other areas of the world. The new trade deal with Japan includes $550 billion in projects that the U.S. will select.
The U.S. will put a baseline 15% tariff on all Japanese imports, with sector-specific duties on goods like vehicles. It also gives a big boost to row crops like corn and soybeans, with Japan agreeing to ramp up purchases of those U.S. crops.
Tariffs are pushing up input costs, with fertilizer prices rising $100 per ton and machinery costs climbing due to steel and parts duties.
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