Japan and the United States remained apart Friday over the issue of whether Japan can allow U.S. automakers more access to the domestic market under an envisioned Pacific free trade deal, a Japanese official said.
“We made some progress but reached no new agreement,” Takeo Mori, Japanese ambassador in charge of economic diplomacy, told reporters in Washington after three days of negotiations with Wendy Cutler, acting deputy U.S. trade representative.
The gap over auto trade is a contentious bilateral issue related to the Trans-Pacific Partnership deal along with differences over Japan’s exceptional tariffs on some agricultural produce.
Mori said the issue of settlement of international disputes was among topics in the latest round of talks with Cutler, but declined to go into further details.
Mori said he and Cutler are likely to discuss the schedule for future negotiations over the auto issue in Tokyo next week as she will be heading for the Japanese capital for talks on farm products with Hiroshi Oe, deputy chief TPP negotiator, on Tuesday and Wednesday.
The TPP involves Japan, the United States and 10 other countries but solving problems between the two biggest economies in the TPP framework is seen as vital to advance the broad negotiations.
via Mainichi
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.