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Japan Braces for All Trade Options with U.S.
Japan’s government says it is developing contingency plans to cover all options in upcoming trade talks with the U.S.
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Japan’s government says it is developing contingency plans to cover all options in upcoming trade talks with the U.S.
Earlier this week President Donald Trump rejected the Trans-Pacific Partnership deal, which was to form a trading bloc consisting of Japan, Mexico, the U.S., and nine other countries that ring the Pacific Ocean.
Trump prefers to negotiate new bilateral agreements on a country-by-country basis.
Japanese Prime Minister Shinzo Abe is scheduled to meet with the Trump administration in Washington, D.C., next month in hopes of quickly reaching an accord that will avoid disrupting trade between the two countries. A government spokesperson tells reporters, “We are preparing to be able to respond to any possible situation.”
On Thursday, the White House floated the notion of imposing a flat 20% import tax on all goods from Mexico, which would include vehicles and other products made there by Japanese companies. The Trump administration says the proceeds would be used to build a huge wall between the two countries to block illegal immigrants.
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