Mexican Media Brands
Japan, U.S. Aim This Week for Quick Trade Pact
Top U.S. and Japanese trade negotiators will meet for two days in Washington, D.C., this weeks in hopes of cinching a deal between the two countries by September.
#economics
Share
Top U.S. and Japanese trade negotiators will meet for two days in Washington, D.C., this weeks in hopes of cinching a deal between the two countries by September.
Representatives will kick off two days of high-level talks on Wednesday, The Nikkei reports.
Reaching agreement within six weeks would give Japan’s parliament time to approve the pact by year-end. If that deadline passes with no deal, Japan’s ratification won’t occur until just before next year’s presidential election, the newspaper points out.
Achieving a consensus would require a very rapid resolution to agricultural and auto issues that have stymied the discussions since they began in April.
Japan wants to avoid U.S. quotas or new tariffs on its domestically produced cars and auto parts, which currently account for about one-third of all Japanese exports.
The Trump administration is demanding greater access by American farmers to the Japanese market. Japan currently is the fourth-largest U.S. agricultural market, according to the Congressional Research Service.
Last year Japan had a $58 billion surplus of goods and services sold in the U.S., mostly through trade in the automotive sector.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.