© Reuters. President Trump Eyes August for a U.S.-Japan Deal on Trade

(Bloomberg) — U.S. President Donald Trump said he may announce something on a U.S.-Japan trade agreement in August, giving Prime Minister Shinzo Abe breathing space on the contentious issue as his ruling party heads into elections planned for July.

Before formal discussions with Abe in Tokyo on Monday, Trump said told reporters that “a lot of very positive things are happening on trade.” Trump has threatened to raise tariffs on Japanese cars sent to the U.S. and is seeking greater access to the world’s third-largest economy for American farmers.

“Trade-wise, I think we will be announcing some things probably in August that will be very good for both countries,” Trump said. “We have to do a little catching up with Japan because they’ve been doing much more business with us. We’d like to do a little more business in the reverse.”

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