Japan's government: US-Japan trade deal to boost Japan's GDP by 0.8%

Omkar Godbole FXStreet Contributor

The recently signed US-Japan trade deal would boost Japan's gross domestic product (GDP) by about 8% and create about 280,000 jobs In Japan, the Japanese government said on Friday.

The two countries signed a deal last week under which Japan will open its market for agricultural products such as beef and pork and the US will remove or reduce its tariffs on imports of Japanese industrial goods such as machinery, according to the Japan Times. The two countries are seeking to put the trade pact into force on Jan. 1.

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Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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