President Donald Trump said he had reached an “initial” deal on tariff barriers with Japan, potentially clearing the way for a resolution of the trade stand-off between Washington and Tokyo.
Mr Trump made the announcement in a statement to Congress on Monday night, but did not offer details. The agreement being negotiated between the two countries would offer US agricultural producers, who have been hit hard by the trade war with China, improved access to the Japanese market, in line with terms of the TPP trade deal with a group of Pacific nations that Mr Trump abandoned in early 2017.
In turn, the US was expected to lower tariffs on some industrial goods. The US and Japan also entered into an “executive agreement” on digital trade, Mr Trump wrote.
