President Trump Signs the U.S. Japan Trade Agreement

President Trump Signs the U.S. Japan Trade Agreement

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WASHINGTON (AP) — President Donald Trump is scheduled to sign a limited trade agreement Monday with Japan, a deal that would win back benefits American farmers lost when Trump pulled out of a broader Asia-Pacific pact his first week in office.

U.S. farmers have been operating at a disadvantage in Japan since Trump withdrew from the Trans-Pacific Partnership agreement, which had been negotiated by the Obama administration. The other 11 Pacific Rim countries, including big farm producers such as New Zealand and Canada, went ahead without the United States and were enjoying preferential treatment in Japan.

While rewarding American farmers, the new U.S.-Japan mini-deal does not resolve differences over trade in autos. Trump has said the two countries continue to work on a more comprehensive agreement.

The limited trade pact also includes market-opening commitments on $40 billion worth of digital trade between the two countries.

Trump has long complained by America’s large trade deficit with Japan, which came to $58 billion last year. Japan is the world’s third-biggest economy behind the United States and China.

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