The White House sent a notice to Congress on Monday stating that President Donald Trump is ready to sign a trade deal with Japan.
"I am pleased to report that my administration has reached an initial trade agreement regarding tariff barriers (the "agreement") with Japan and I intend to enter into the agreement in the coming weeks," the notice said.
The notice did not mention specifics other than the president stated he would also enter into an executive agreement with Japan regarding digital trade.
"My administration looks forward to continued collaboration with the Congress on further negotiations with Japan to achieve a comprehensive trade agreement that results in more fair and reciprocal trade between the United States and Japan," the notice stated.
Trump had announced at the G7 meeting last month in France that the U.S. and Japan had reached an agreement in principle. Trump said at the time, Trump said, “We’ve been working on a deal with Japan for a long time. It involves agricultural and it involves e-commerce and many other things. It’s a very big transaction, and we've agreed in principle. It’s billions and billions of dollars. Tremendous for the farmers.”
Trump added at the G7 that Japan would be buying a lot more U.S. corn.
The president is looking to sign a deal by the end of this month when Trump and Japanese Prime Minister Shinzo Abe are both attending the United Nations assembly in New York.
Associated Press reported early Tuesday that Japan's government spokesman said the two sides are still finalizing details on agricultural products, digital trade and other industries.
Bloomberg reported Monday that U.S. rice growers might not see any expanded access to Japan under the trade deal.
Chris Clayton can be reached at Chris.Clayton@dtn.com
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