Rice Excluded From Japan Deal

Rice Excluded From Japan Deal

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The White House officially notifies Congress it will sign the trade agreement with Japan, but U.S. rice farmers are left out.

The administration is still working to finalize the details but Bloomberg reports there won’t be an expansion of rice quotas. Under World Trade Organization commitments, Japan is required to import 682 thousand tons of rice with U.S. grown grain accounting for half that. U.S. producers are hopeful the issue will be dealt with in the second phase of negotiations.

The 'in principle' agreement is expected to be signed in New York this month. The deal doesn't need Congress's approval and can go into effect immediately.

Iowa Senator Chuck Grassley says it's very good news, but cautions the U.S. still lost some benefits when we exited the TPP.

It would have been a political and diplomatic coupe against China. That's what we lost not being part of TPP. Economically I think this puts us back but it doesn't deliver the same message to China.

Grassley says he plans to work with negotiators towards a more comprehensive trade deal that goes beyond agricultural issues.

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