US-Japan trade agreement to see tariffs eliminated on US ethanol over time

In Washington, the US and Japan have come to an agreement on a limited trade agreement that will see staggered tariff elimination on US ethanol exports to Japan, among a host of other products. The rate of which the staggering will take place was not outlined in the announcement. Out of the $14.1 billion in U.S. food and agricultural products imported by Japan in 2018, $5.2 billion were already duty free. Under this first-stage initial tariff agreement, Japan will eliminate or reduce tariffs on an additional $7.2 billion of U.S. food and agricultural products.