The White House has announced plans to enter into an "initial trade agreement regarding tariff barriers" with Japan, reports Reuters.
President Trump said the trade agreements with Tokyo that could be implemented without congressional approval, but stopped short of assuring Japan that new tariffs would not be slapped on vital auto exports.
Japan represents the United States’ third largest export market behind Canada and Mexico for feed, feed ingredients and pet food products at a value of $986 million in 2018.
By eliminating existing barriers and leveling the playing field, a U.S.-Japan trade agreement will allow America’s animal food and ingredient manufacturers greater access into this marketplace.
“AFIA is pleased the administration has reached an initial trade agreement on tariff barriers with Japan and intends to enter into the agreement in the coming weeks," says the American Feed Industry Association’s President and CEO Joel G. Newman. "We are hopeful this agreement will show progress in bringing the U.S. animal food industry closer to the level of tariff treatment Japan affords our competitors in the recently implemented Comprehensive and Progressive Agreement for Trans-Pacific Partnership."
Newman concludes, "We are eager to review the final text and for further developments in subsequent bilateral negotiations with Japan.”
