President Donald Trump has announced the “first stage of a phenomenal new trade agreement” with Japan.
It’s not immediately clear from Trump’s comments on the sidelines of the U.N. General Assembly what that “first stage” includes.
But Washington and Japan — which is the world’s third largest economy — have been in long, sometimes contentious negotiations on a trade deal.
There’s reportedly been considerable behind-the-scenes wrangling because of Japan’s concern about the possibility of future U.S. tariffs on Japanese auto exports.
Trump says Japan will open new markets to approximately $7 billion in U.S. agriculture products, including beef, pork, wheat, cheese, corn, wine and more.