CORRECTED-Trump, Abe agree on principles of trade deal at G7

Reuters
Updated

(Corrects second para to say industrial tariffs, not profits)

BIARRITZ, France, Aug 25 (Reuters) - President Donald Trump on Sunday said he and Japan's Prime Minister Shinzo Abe had agreed on the principles of a trade deal that would probably be signed next month in New York.

Trump's Trade Representative Robert Lighthizer said the deal would open up markets to over $7 billion worth of goods and covered agriculture, industrial tariffs and digital trade.

The U.S. president said Abe agreed that Japan would buy excess U.S. corn. Abe said of the "potential" purchase of U.S. corn that such purchases would be carried out by the private sector.

(Reporting by Jeff Mason; Writing by Richard Lough, Editing by William Maclean)