Policy Update
Tax and farm bill provisions being debated.
Portion of $290B in nutrition savings redirected to boost commodity and crop programs.
The 90-day reduction in tariffs gives both sides until mid-August to reach a comprehensive trade deal.
This is the first bilateral trade deal announced since Trump began slapping tariffs on U.S. trading partners.
Officials are not expecting major breakthroughs, but at least the two sides are talking.
Trade focus is also on China, Japan, EU and others.
Analysts are skeptical about the scale and speed of the claimed 200 agreements.
U.S. presents draft trade framework to Japan.
China is deliberately holding off on re-engaging in formal trade negotiations.
GOP budget reconciliation plans remain in flux.