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U.S. farm states cheer Japan corn deal

Japan is set to increase its imports of US corn by over 2 million tons a year starting from September, or about 25% above the current level. US farm states are welcoming the deal, which is separate from the broad trade agreement the two countries plan to sign next month.

 

The announcement on corn imports came after Prime Minister Shinzo Abe and President Donald Trump agreed to a new trade framework at the G7 summit in France.

 

Nebraska Gov. Pete Ricketts tweeted: “Great news for Nebraska!” Iowa Gov. Kim Reynolds tweeted: “Appreciate efforts to expand and open markets for our products to be sold.”

 

The two states are major producers of corn and other agricultural products.

US farmers have been hit hard by the ongoing trade war with China. As exports have fallen, the US has started looking for other markets.

 

Trump has been touting the trade deal with Japan in an apparent effort to win farmers’ support in next year’s presidential election.

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