US and Japan Business – level 2
The US and Japan signed two new trade deals last week.
The first deal has an impact on exports – exports are sending products to another country. The deal will eliminate or reduce Japanese taxes on farming products like beef, pork, wheat and others. The US believes that it will make the trade with Japan fairer.
The second deal focuses on digital trade. These are things like music, videos or software. Currently, this business has a value of 40 billion dollars and the US wants to improve it.
At the same time, the US and China are starting to talk about business, too. They focus on similar areas of business as they do with Japan.
Difficult words: trade deal (an official and signed agreement between two or more groups, usually about business or politics), eliminate (stop the existence of something), value (the worth of something).
You can watch the original video in the Level 3 section.
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