U.S., Japan may sign trade deal

BIARRITZ, France (Reuters) — The United States and Japan have agreed in principle to core elements of a trade deal that U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe said they hoped to sign in New York later this month.

U.S. Trade Representative Robert Lighthizer said the deal covered agriculture, industrial tariffs and digital trade. Auto tariffs would remain unchanged.

Trump said Japan had agreed to buy excess U.S. corn that is burdening farmers as a result of the tariff dispute between Washington and Beijing.

“It’s a very big transaction, and we’ve agreed in principle. It’s billions and billions of dollars. Tremendous for the farmers,” Trump said.

Abe said more work remained, but he expressed optimism that it would be finished by the time of the United Nations General Assembly later in September.

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