The Japanese Prime Minister, Shinzo Abe and U.S President Donald Trump have signed a limited trade deal which cuts off tariffs on Japanese Machine tools, U.S Farm crops and many other products.
The first phase of the deal is expected to open up $7 Billion worth of American goods to the Japanese market without tariffs.
Although the deal doesn’t include trade in automobiles, Shinzo Abe confirms that between the two of them there is an agreement that no additional tariffs will be imposed.
“Between President Trump and I, myself, this has been firmly confirmed that no further, additional tariffs will be imposed,” Abe told a news conference. “And with the entry into force of our trade agreements, I believe both of our economies will be able to further grow and develop.”
According to Robert Lighthizer, the U.S Trade Representative, automobiles will be tackled in a separate set of talks.
