U.S. and Japan Reach Trade Deal on Farm Goods, Digital Trade

The United States and Japan outlined initial details of a trade deal Wednesday as they to iron out a broader agreement.

The first stage of the accord will open markets up to about $7 billion in U.S. agricultural products, President Donald Trump said at a signing ceremony with Japanese Prime Minister Shinzo Abe at the United Nations. Japan will also reduce tariffs on products such as beef and pork, and eliminate tariffs on goods such as almonds, blueberries and broccoli.

President Trump added that the two nations made commitments for $40 billion worth of digital trade. It would bar customs duties on products such as videos, music and e-books, among other provisions.

In a joint statement later Wednesday, Japan and the U.S. said they wanted to finish their trade talks within about four months, according to Reuters. They said that, “while faithfully implementing these agreements, both nations will refrain from taking measures against the spirit of these agreements and this joint statement.”