(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. U.S. farmers -- reeling from trade wars, low commodity prices and bad weather -- are set to be the main winners from President Donald Trump’s initial accord with Japan.Under a trade agreement announced by Trump and Japanese Prime Minister Shinzo Abe on Wednesday, the Asian country will lower or reduce tariffs on some $7.2 billion of American-grown farming products, according to the U.S. Trade Representative’s office.Japan will reduce tariffs in stages on U.S. farm goods, such as beef and pork, USTR said in a statement Wednesday. The country will eliminate tariffs on $1.3 billion of U.S. agriculture products, including almonds, blueberries, sweet corn and sorghum, it said. It will also eliminate duties on commodities like ethanol, cheese and whey, frozen poultry and oranges, USTR said.American farmers, a key part of Trump’s rural base, have found themselves in the cross-...
