Talking Agriculture Trade…
U.S. trade relations with Japan, one of the largest purchasers of Nebraska agriculture commodities, will be front and center this weekend as President Trump is slated to meet with Japanese Prime Minister Abe during the G20 summit.
In addition to the President’s meeting, U.S. Trade Representative Robert Lighthizer is also expected to meet with his Japanese counterpart to work toward getting a bi-lateral trade deal with Japan.
Lighthizer has indicated the Administration is looking to strike a deal with terms like those Japan shares with other countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that would include lower tariff rates on U.S. agriculture commodities, specifically U.S. beef. Earlier this week, Iowa Sen. Chuck Grassely stated that a trade agreement with Japan is forthcoming later this summer, with an announcement likely to occur after Japan’s elections in July.
While not tied to the summit, President Trump is also scheduled to meet Saturday with Chinese President Xi Jinping for a meeting that could lead to a revival of high-level U.S.-China trade talks that broke off this spring.