Mexican Media Brands
Japan, U.S. Scurry to Clarify Trade “Deal”
Trade negotiators are scrambling to deliver at least the broad strokes of a trade pact that President Donald Trump hopes to sign with Japan Prime Minister Shinzo Abe late this month.
#economics
Share
Trade negotiators are scrambling to deliver at least the broad strokes of a trade pact that President Donald Trump hopes to sign with Japan Prime Minister Shinzo Abe late this month.
Trump proclaimed at last month’s Group of Seven meeting in France that the two leaders would sign a “great deal” on the sidelines of the United Nations General Assembly in New York City. But sources tell Bloomberg News that Trump’s impromptu press conference to announce the deal caught Japanese officials by surprise.
Japan’s biggest request is that any deal formally stipulates that cars it ships to the U.S. won’t be subject to new tariffs. But its negotiators still aren’t sure about Trump’s position on that point.
When he announced the impending trade deal on Aug. 25, Trump indicated he was suspending his threat to hike U.S. tariffs on vehicles from Japan to 25% from the current 2.5%. But Trump added, “It’s something I could do at a later date If I wanted to.”
Bloomberg’s sources say it’s highly unlikely that negotiators will be able to finalize a detailed agreement in time for the ceremonial endorsement Trump hopes to make a few weeks from now.
The sources are more optimistic about completing a conceptual agreement for that event. They say a second phase of talks to construct a more specific pact isn’t likely to begin for many weeks.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
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