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US-Japan trade negotiations, signing agreement document at summit meeting

2019-09-18T09:28:32.816Z

Nobufumi Takemoto [Tokyo Reuters]-The two leaders are expected to meet on the 25th and sign a document that has received a broad agreement on US-Japan trade negotiations. Japan's tariff reductions centered on agricultural products are within the scope of the Trans-Pacific Partnership (TPP)



Takemoto Nobun

[Tokyo 18th Reuters]-The two leaders are expected to meet on the 25th and sign a document that has received a broad agreement on US-Japan trade negotiations. Japan's tariff reductions centering on agricultural products are expected to be within the scope of the Trans-Pacific Partnership (TPP).

On the other hand, with regard to automobiles, which are the biggest focus, the gap between Japan and the United States is deep and discussions are expected to continue. The Japanese side intends to confirm in writing that no additional tariffs will be imposed on cars exported from Japan during the consultation.

Several sources revealed.

<Foreign exchange clause is not included>

Prime Minister Shinzo Abe, who visits New York in the United States at the United Nations General Assembly, signs a trade agreement document at a summit meeting with President Trump. President Trump informed the US Congress on the 16th that the first agreement was reached in negotiations with Japan and that it would be signed within a few weeks.

The tariffs on agricultural products, which have been dissatisfied with US farmers leaving the TPP, are expected to fall within the TPP range. As for beef, the current tariff of 38.5% is gradually reduced to 9%, but the tariff level is expected to be lowered so as not to be subordinate to the tariff level of the TPP member countries that have been lowered.

As for rice, the TPP before the US withdrew from the negotiations had planned that Japan would set a maximum of 70,000 tons of tariff-free import quota for the US, but this time it is aiming to reduce the quota.

The exchange clause prohibiting foreign exchange operations that the US auto industry strongly demanded is not included in this document.

If it is determined that this agreement will affect Japanese farmers, the Japanese side will revise the TPP and policy-related outlines such as TPP and Japan-Europe EPA (Economic Partnership Agreement). The policy is to consider the response.

<Nishimura Revival Minister takes over>

However, the US has set a goal of reducing the trade deficit with Japan by 7 trillion yen per year. The balance with Japan's position that the trade balance cannot be managed under the free trade system is not filled.

In a joint document prepared when the leaders of Japan and the United States agreed to hold a trade negotiation in September last year, a statement was written stating that employment in the US automobile industry would increase for automobiles. The Japanese side continues to seek reductions in US passenger car and parts import duties (3.5%) so that Japanese manufacturers can expand local production in the US. The discussion is expected to continue.

The United States is considering adding additional high tariffs under Article 232 of the Trade Expansion Act for security reasons in order to curb automobile exports in Japan and Europe, and the deadline for judgment is mid-November. The Japanese side says it wants to confirm in writing that the US will not impose additional tariffs on Japan while negotiations are ongoing.

According to the agreement, the Japanese side is optimistic that “Japan-US negotiations are unnecessary for about a year” (the ruling party), while “Trump President who refrains from the presidential election next year seeks results within the year” (Government officials ) Toshimitsu Motegi, former Minister of Economic Revitalization who led the negotiations between Japan and the United States, became a foreign minister, and he was too busy to carry out trade negotiations. Has surfaced.

As a result of negotiations between the United States and Japan, if it is judged that the domestic automobile industry will be adversely affected, it is said that “industry measures will be considered based on automobile-related tax reform” (government officials)

(Editor: Hitoshi Ishida)

Source: asahi

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