The Japanese trade deal which was recently signed will bring the United States almost on the same level with Trans-Pacific Partnership (TPP) member countries, in a bilateral deal. The benefits to agriculture will be up into the billions of dollars.
United States Trade Ambassador Robert Lighthizer talks about the overview of this trade deal. It includes staged tariff relief on over $3 billion worth of meat, produce, cheese, and ethanol. It also includes immediate tariff relief on $1.3 billion worth of nuts, fruit, sweet corn, dairy, and grain sorghum.
Pork is one of the biggest winners in this trade deal with Japan. They are going to be able to close in on the advantage TPP members had. National Pork Producer’s Nick Giordano said the pork industry was not interested in being behind in Japan.
Lighthizer says the pork industry got what it needed to compete in Japan. Lighthizer says Japan is a substantial trading partner, and this brings us back into a competitive market.