US and Japan closer to reaching free trade deal
Japan and the United States are near an agreement on a major trade pact, which is seen as removing a potential obstacle to a larger free-trade deal between 12 nations straddling either side of the Pacific Ocean known as the Trans-Pacific Partnership (TPP).
That comes amid attempts by the US to reach a similar regional trade deal with the European Union, recent setbacks on concluding a global trade pact and growing Chinese assertiveness in the region.
“We think that an agreement between Japan and the US is close, but we´re hoping that even more progress will be made,” Japanese Prime Minister Shinzo Abe told The Wall Street Journal (WSJ) in an interview.
The remarks preceded a visit by Abe to the US from 26 April to 3 May.
This week negotiators from both sides are expected to discuss American demands that Japan double its purchases for rice – an extremely sensitive topic in Japan - and Tokyo´s demand that Washington immediately eliminate a 2.4% tariff on its exports of automobile parts.
Differences over Japanese agricultural tariffs and the automobile trade sank similar efforst back in early 2014.