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Report: US, Japan hammering out agriculture, industrial, digital trade deal

U.S. President Donald Trump said he and Japan's Prime Minister Shinzo Abe have agreed on the basics of an upcoming trade deal, the New York Times reported Aug. 25.

The deal discussions at the ongoing G-7 summit in Biarritz, France, have been focused on agriculture, industrial tariffs and digital trade, the Times reported, citing Robert Lighthizer, Trump's trade representative. Both Trump and Abe said they plan for the deal to include an agreement for Japanese businesses to buy surplus U.S. corn, according to the news report.

Abe said through an interpreter that the leaders had "successfully reached consensus with regard to the core elements related to agricultural and industrial trade," the Times reported.

The leaders said they expect the deal to be signed in September, the news outlet said.