President Donald Trump on Monday signed a long-awaited trade agreement between the U.S. and Japan, the biggest overseas consumer of U.S. beef.
Fred Wacker, president of the Montana Stockgrowers Association, stood by at the signing of the new trade deal in D.C.
He said this $55 billion trade agreement is a boon for Montana farmers and ranchers.
“It will be absolutely a fabulous thing because it will dump tons of money into Montana cattle business,” Wacker says, adding that corn and wheat industries will benefit, too.
The agreement restores some of the trade benefits lost when Trump removed the U.S. from the Trans-Pacific Partnership Agreement two years ago.
Republican U.S. Sen. Steve Daines was also at the White House signing.
In a press conference Monday, he highlighted the 75 percent reduction of tariffs on frozen and fresh beef and pork.
Daines said in January those tariffs will go from 38.5 percent to 27.6 percent.
"However, it eventually glides past down to 9 percent,” Daines said.
He said that’s slated to go into effect by 2033.