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World

Donald Trump says US-Japan reach initial trade agreement regarding ‘tariff barriers’

US-Japan trade deal

Washington DC, Sep 17: Japan and the United States had recently concluded their initial bilateral trade agreement in regards to ‘tariffs barriers’ between the two countries, President Donald Trump has announced on Monday [local time].

In an official statement, Trump was quoted by Sputnik as saying: “On October 16, 2018, my administration notified the Congress that I intended to initiate negotiations with Japan on a United States-Japan Trade Agreement.”

Trump added, “As stated in that notification and subsequent consultations with the Congress, my administration proposed pursuing negotiations with Japan in stages.”

He said he was pleased to report that his administration has reached an initial trade agreement regarding tariff barriers with Japan and, “I intend to enter into the agreement in the coming weeks.”

On August 26, Trump had reportedly announced the two nations have endorsed to a “big” trade pact. He had also made the same declaration at the G7 summit held in Biarritz, France.

Trump had said his administration has been working on an agreement with the officials from Japan for a long time, that includes e-commerce, agriculture, and several other sectors to deal. Trump called it a “very big transaction” and said both sides have agreed in principle.

 

 

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