Japan-US trade negotiations, both leaders signed a joint statement

Prime Minister Shinzo Abe and US President Trump signed a joint statement on the 25th (26th Japan time) at the summit meeting in New York. In response to the request of the United States, which has withdrawn from the Trans-Pacific Economic Partnership Agreement (TPP), the bilateral negotiations decided last September were concluded in just one year. The two countries emphasized protection of their own industries, and this is a setback from the perspective of promoting free trade.

Mr. Trump, who will refrain from the re-elected presidential election next year, aimed to increase agricultural exports and protect the automobile industry in order to increase employment and reduce trade deficits in the United States. As a security threat that threatens the US industrial base, he also considered the launch of additional tariffs on Japanese cars and put pressure on them.

Japan's negotiating stance focused on protecting its own agriculture while preventing this additional tariff. It was settled by including a “word quality” in the US, which refrains from additional tariffs on Japanese cars.

Japan demands a reduction in tariffs related to automobiles, which accounts for about 35% of exports to the United States, in line with the TPP agreement. Under the TPP agreement, the tariff rate for passenger cars (2.5%) started to be reduced from the 15th year, and automobile parts (mainly 2.5%) were to be eliminated immediately with over 80% of items. According to this agreement, the agreement will be "eliminated after further negotiations", and both will continue to be discussed.

On the other hand, the beef that the United States places particular importance on ...