| Washington, D.C.-President Trump signed an Executive Order implementing the U.S.–Japan Trade Agreement. Included in the agreement are provisions for Japan to make $8 billion in annual purchases from the United States, including food and agricultural products.
While U.S. soy already enjoys strong market access in Japan, this agreement helps further secure a top ten market for our crop. In Marketing Year 2023/2024, Japan imported $1.31 billion of U.S. soy products, making the country U.S. soy’s sixth largest trading partner by volume, according to USDA’s Foreign Agricultural Service.
“This news comes at a critical time as U.S. soybean farmers begin harvest,” said ASA President and Kentucky farmer Caleb Ragland. “We appreciate President Trump prioritizing agriculture in trade negotiations with key partners like Japan and urge the Administration to finalize additional trade deals in the weeks ahead. Reliable agreements like this not only strengthen markets for U.S. soy and keep America’s farm families a priority, but also help our farmers remain competitive in the global marketplace.” |
