Senator John Hoeven, chairman of the Agriculture Appropriations Committee and member of the Senate Agriculture Committee, released the following statement today after the President announced a trade agreement in principle between the United States and Japan.
“We’ve been encouraging the Administration to finalize negotiations with Japan, which is our nation’s third largest agriculture market,” said Hoeven. “We appreciate the President and his trade team for securing this new trade agreement in principle, which will open up the Japanese market to an additional $7 billion in U.S. agriculture goods. We look forward to continuing to work with the Administration to advance trade agreements and hope this new agreement will put pressure on China to reach an agreement. We will also continue working to advance the USMCA, which needs to originate in the House.”
According to trade officials, the agreement with Japan will benefit a large variety of U.S. products including corn, beef, pork, wheat, potatoes, dairy, ethanol, and will substantially reduce tariffs as well as other barriers.