Friday, 22 November, 2019

Trump says U.S. reaches trade deals with Japan, no word on cars

President Trump with Japanese Prime Minister Shinzo Abe at the Group of 20 summit in Osaka Japan in June President Trump with Japanese Prime Minister Shinzo Abe at the Group of 20 summit in Osaka Japan in June
Patty Aguilar | 17 September, 2019, 15:59

US President Donald Trump said on Monday that his administration reached an "initial" trade deal regarding tariff barriers with Japan, indicating that the agreement doesn't need to be approved by Congress.

In a letter to the US Congress launched by the White House, Trump acknowledged that he intends to enter into the agreements on tariff boundaries and digital change "in the impending weeks" and became notifying lawmakers that the tariff deal would be made beneath a change law provision allowing the US president to originate reciprocal tariff reductions by proclamation.

Japan plans to reconfirm in the final stage of trade talks with the United States that Washington will not impose additional tariffs on Japanese vehicles and auto parts, Foreign Minister Toshimitsu Motegi said on Tuesday.

According to the Japan Times, Trump and Japanese Prime Minister Shinzo Abe met on the sidelines at the annual Group of Seven conference in Biarritz, France, late last month and agreed to speed up finalization of the deal.

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Trump said after the G7 summit last month that he was not considering auto tariffs "at this moment". The leaders said they hoped to sign the pact on the sidelines of the United Nations General Assembly in NY later this month. The farmers had been disadvantaged in Japan's market after the United States withdrew from TPP after Trump took office in 2017.

"My Administration appears forward to continued collaboration with the Congress on extra negotiations with Japan to assemble a total change agreement that ends in extra profitable-looking and reciprocal change between the USA and Japan", Trump acknowledged.

U.S. Trade Representative Robert Lighthizer has said the limited trade deal will cover agriculture, industrial tariffs and digital trade. "But I decline to comment further because we have not reached a formal agreement".

Trump has often focused on the auto industry as a barometer of overall U.S. -Japan trade.

In October 2018, the Trump administration notified Congress that it meant to initiate trade negotiations with Japan under the framework of the act. Trump pulled out of the initial, larger deal shortly after becoming president, claiming the deal was bad and pledging to negotiate smaller, separate deals with various nations. -China trade war and lost market share.

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