Japanese representative Toshimitsu Motegi said in a statement that Tokyo and Washington are far from trade agreement after his confab with U.S. officials turned out to be “very tough”.
The Minister of the Japanese economy flew to Washington to negotiate with the U.S. Trade Representative Robert Lightizer, with hopes of ironing out trade imbalances and come up with a bilateral trade deal.
Representatives of the U.S. and Japan met and aimed to set things up for a possible meeting between their national leaders in U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe.
Trump is looking to strike a deal with Japan to open its agriculture sector for trading and control exports of auto parts to the U.S.
Meanwhile, Japan’s target is to ask the U.S. to cut tariffs on imports specifically in the industrial sector.
Japan’s Motegi felt that there are a lot of things to settle before they could enter a trade deal.
“Discussions are undoubtedly deepening. But there are still gaps that need to be filled.”
British consumers brace for inconvenient shopping sans clear post-Brexit trade deal
17.02.2020Euro slips on weak economic growth, yen stable despite weak Japan GDP
17.02.2020Japan's economy falls in fourth quarter, recession risks grow
17.02.2020Indonesia posts larger than expected trade deficit as declining export prices affects trade
