Japan US Trade

In this Aug. 25, 2019, file photo, U.S President Donald Trump and Japanese Prime Minister Shinzo Abe shake hands following a news conference at the G-7 summit in Biarritz, France to announce that the U.S. and Japan have agreed in principle on a new trade agreement. On Tuesday, Sept. 17, 2019, officials in Japan appear wary over the prospects for a trade deal with the U.S. after President Donald Trump said he was prepared to sign a pact soon. 

Colorado's farm producers welcomed the news Monday that President Donald Trump has signed a limited trade agreement with Japan, the state's fourth-largest export market. 

The move is expected to help American farmers recoup lost ground from when Trump pulled out of a broader Asia-Pacific pact in 2017.

"The signing of the U.S.-Japan Trade Agreement today is a positive sign for agriculture producers in Colorado," Don Shawcroft, the president of Colorado Farm Bureau, said in a statement. "The agreement will mean sharply lower tariffs on many agricultural products and will allow American producers to compete on a level playing field with other foreign competitors."

Shawcroft then pivoted to the other markets for Colorado goods, where Trump could help out.

“We hope this momentum can be carried into talks with Chinese leaders later this week, and that leaders on Capitol Hill will take note and work to quickly come to an agreement on the pending USMCA deal,” he added, referring to the United States-Mexico-Canada Agreement.

The Associated Press reported Monday that U.S. farmers have operated at a disadvantage with Japan since Trump withdrew from the Trans-Pacific Partnership agreement his first week in office two years ago.

The  Obama administration negotiated the partnership with 11 Pacific Rim countries in 2016.

“This is a huge victory for America’s farmers, ranchers and growers," Trump said after signing the new deal Monday. "And that’s very important to me.”

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