Finance

US, Japan trade talks remain stalled

After two days of talks, top U.S. and Japanese trade officials failed to make any more progress on several outstanding issues in a massive Asia-Pacific trade deal.

U.S. Trade Representative Michael Froman and Akira Amari, Japan’s trade minister, were unable to make inroads on agricultural and auto market access issues that are stymying both nations in the bilateral talks, the USTR said on Wednesday night. 

{mosads}“The United States continues to demonstrate a commitment to the level of ambition that all TPP countries agreed to attain when they entered negotiations,” the U.S. trade office said in a statement.

Both sides will consider the next steps following consultations in Washington and Tokyo.

The 12 nations involved in the Trans-Pacific Partnership (TPP) discussions are aiming to complete a deal in November.

On Tuesday, Japanese Prime Minister Shinzo Abe said he wanted to take an aggressive tack in the bilateral talks between the two nations in an effort to open up his nation’s markets.  

But he argued that both nations had to give a little to reach a deal.

Froman has said repeatedly that the goal is for Japan, as part of getting a seat at the TPP table, to eliminate most tariffs and other non-tariff barriers that will allow for the free flow of more foreign imports and breathe life into one of the world’s largest economies. 

Tags Akira Amari Japan Michael Froman Shinzō Abe Trans-Pacific Partnership (TPP)
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