President Donald Trump meets with Japanese Prime Minister Shinzo Abe at the InterContinental Barclay New York hotel during the United Nations General Assembly, Wednesday, Sept. 25, 2019, in New York. (AP Photo/Evan Vucci)

Trump: US, Japan agree on 1st stage of new trade agreement

September 25, 2019 - 11:26 am

UNITED NATIONS (AP) — President Donald Trump has announced the "first stage of a phenomenal new trade agreement" with Japan.

It's not immediately clear from Trump's comments on the sidelines of the U.N. General Assembly what that "first stage" includes.

But Washington and Japan — which is the world's third largest economy — have been in long, sometimes contentious negotiations on a trade deal.

There's reportedly been considerable behind-the-scenes wrangling because of Japan's concern about the possibility of future U.S. tariffs on Japanese auto exports.

Trump says Japan will open new markets to approximately $7 billion in U.S. agriculture products, including beef, pork, wheat, cheese, corn, wine and more.

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