Japan and US to Finalize a Trade Deal Soon?
Even as the US-China trade war flares up after Trump announced more tariffs on Chinese goods, US and Japan have agreed to speed up their trade negotiations as they work towards a trade deal. Following the first day of his meetings in Washington, Japanese foreign minister Toshimitsu Motegi has confirmed that trade talks are progressing well.
Trump has repeatedly called Japan out for its trade surplus with the US, even threatening them with tariffs on automobiles and auto parts. He has been trying to negotiate a more profitable, bilateral trade agreement with Japan to replace the existing one. The US is also trying to pressure Japan into opening up its agriculture market to permit US players, especially for beef and rice.
While Motegi did not confirm a timeline of when a trade deal between US and Japan would be finalized, he did admit that Japan did not have much time to work things out with the US on the issue of trade. The next round of talks is scheduled for later today, following which Japanese PM Shinzo Abe could visit New York in September for a meeting with US President Donald Trump.
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