As US-China fight on trade, Japan is on deck

22-Aug-2019 Intellasia | FoxBusiness | 6:02 AM Print This Post

As the US and China Opens a New Window. continue to duke it out over tariffs with the September deadline approaching, trade talks Opens a New Window. with Japan will begin on Wednesday.

Japan’s Economic minister Toshimitsu Motegi will meet with US Trade Rep. Robert Lighthiser in Washington, D.C. for the first of two days of talks in an effort to reach a trade deal.

The two sides hope to come to an agreement on automobiles and agriculture: Specifically, Japan would give US beef and pork producers new access to its market in return for the US agreeing to reduce tariffs on certain Japanese auto parts brought into America.

A deal would impact companies including Toyota and Honda.

Improved access to the Japanese market would help the US compete with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a trade agreement among Pacific nations other than China, which Trump pulled the US out of in one of his first actions as president.

The US is set to roll out one batch of tariffs set at 10 percent on September 1 with the second 10 percent round delayed until December 15. Under this round of tariffs, there will eventually be approximately 3,800 items that equal about $300 billion in Chinese imports.


Category: Japan

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