President Trump has signed an executive order to implement a trade agreement with Japan that is expected to increase U.S. agricultural sales by $8 billion a year.
Spelling out agricultural trade, the order stated, “Specifically, the government of Japan is working toward an expedited implementation of a 75% increase of United States rice procurements within the minimum access rice scheme and purchases of United States agricultural goods, including corn, soybeans, fertilizer, bioethanol (including for sustainable aviation fuel), as well as other United States products, in amounts totaling $8 billion per year.”
Over the past five years, Japan has bought on average just under $12.9 billion in annual farm goods from the U.S. In detailing the agreement, the White House cited, “Critically, unlike any other agreement in American history, the Government of Japan has agreed to invest $550 billion in the United States.” Those investments will be chosen by the U.S. government and are expected to “generate hundreds of thousands of United States jobs, expand domestic manufacturing, and secure American prosperity for generations.”
CLICK HERE to read President Trump’s Executive Order.
Source: NAFB News Service
