DES MOINES– Wednesday, Governor Kim Reynolds released the following in response to the Japanese parliament approving the U.S. – Japan trade agreement that eliminates or reduces a broad range of import tariffs, specifically on agricultural products:
“When President Trump announced a negotiated trade agreement between the United States and Japan, I knew it meant a significant win for Iowa farmers. Japan is not only a substantial economic power, but a key export market for Iowa beef, pork and corn. This agreement bolsters exports, provides much-needed relief and stability to Iowa’s ag sector, and places even greater pressure on China.
“I appreciate President Trump and Trade Representative Robert Lighthizer’s efforts to expand and open markets. Now it’s time for Congress to do it’s part and officially ratify the USMCA.”
This trade agreement will positively impact over 90 percent of U.S. food and agricultural imports into Japan by reducing or eliminating tariffs. Japan is Iowa’s third largest export destination and the leading export market for pork and beef products. In 2018, Iowa companies exported $1.5 billion in goods to Japan.
Earlier this year, Gov. Kim Reynolds led a 24-member trade mission delegation to Japan. The mission was focused on the food and ag industry, and was aimed at expanding trade and investment opportunities.