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04-19-2018, 04:02 AM #1
Trump and Japan's Abe agree to intensify trade talks
Trump and Japan's Abe agree to intensify trade talks
U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe have agreed to intensify trade consultations with an aim to expand investment and trade.
"On the U.S. side, they are interested in a bilateral deal," Abe told reporters. "Our country's position is that TPP is the best for both of our countries," he added.
Published 7 Hours Ago Reuters
U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe said on Wednesday they had agreed to intensify trade consultations between the two longtime allies, with an aim to expand investment and trade between their countries.
"President Trump and I agreed to start talks for free, fair and reciprocal trade deals," Abe said at a joint news conference with Trump.
Trump reaffirmed his desire at the news conference to address trade imbalances with Japan, saying he preferred one-on-one talks to negotiate a bilateral deal aimed at trimming the U.S. trade deficit.
While the leaders said they had agreed to have top advisers pursue talks, Abe made clear that differences remained in each country's approach.
"On the U.S. side, they are interested in a bilateral deal," Abe told reporters. "Our country's position is that TPP is the best for both of our countries," he added, referring to the Trans-Pacific Partnership trade deal.
The TPP was sought by former Democratic President Barack Obama. Trump abandoned it during his first weeks in office, saying it was not a good deal for the United States.
"I don't want to go back into TPP, but if they offered us a deal that I can't refuse on behalf of the United States, I would do it," Trump said.
"But I like bilateral better. I think it's better for our country. I think it's better for our workers, and I much would prefer a bilateral deal, a deal directly with Japan," he added.
Trump last month imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports that have been in place for about three weeks.
He said the tariffs had brought many countries to the negotiating able and that he may take them off of steel and aluminum imported from Japan if the two countries can come to a trade agreement.
The Trump administration granted temporary tariff exemptions to several other U.S. allies but not Japan. Just after the tariffs took effect, South Korea agreed to a permanent steel exemption in exchange for a new quota that effectively cuts its steel shipments by 30 percent.
Abe said that Japanese steel and aluminum did not "exert any negative influence" on U.S. security.
"It's our position that the quality of Japanese products is high and many of these products are difficult to be replaced with. They are greatly contributing to U.S. industries and employment," Abe said.
https://www.cnbc.com/2018/04/18/trad...ify-talks.htmlA Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
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04-19-2018, 04:58 AM #2
- Join Date
- Apr 2018
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Kudos to Trump for finally standing up to Japan's decades-old unfair trade practices and Japan's insistence on keeping its markets closed to imports. I have renewed respect for Trump due to his handling of the trade issues with Japan and for staying out of TPP. And, I say all this as an American expat who has been living in Japan for over a decade and has worked here professionally for many years.
The TPP was the worst deal ever for the U.S. It would have done nothing to reduce America's chronic trade deficits with Japan. To the contrary, had America stayed in the TPP, it would have made the U.S. trade deficit with Japan even worse year after year. The TPP did not address some of the worst Japanese tariff and non-tariff trade barriers which have kept Japan the world's most protected and closed market.
The reason why Japan is still so keen on having the U.S. rejoin the TPP instead of a bilateral U.S.-Japan trade agreement is because Japan feels that a twelve nation multiparty agreement will give it cover to continue its unfair trade practices which it has engaged in historically. This is something it cannot get away with in a direct bilateral trade agreement with the U.S.
The Americans in charge of negotiating the TPP under Obama were extremely naive and gullible. They were primarily driven by the thinking that the TPP would be an effective tool to counter China's rise. In reality, the TPP, with or without the U.S., will do absolutely nothing to hinder China's rise. In this respect, the TPP is and always was just a mirage.
China will continue to follow its own growth trajectory. What America needs to do now is to have bilateral trade agreements with countries like China and Japan to ensure that they open their markets and reduce their trade surpluses with the U.S. There's much more accountability and it's easier to remedy things when something goes wrong in a bilateral trade agreement as compared to a multiparty trade agreement like the deeply flawed TPP.
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04-19-2018, 06:07 AM #3
Welcome to ALIPAC, al3c and thank you so much for the wonderful informational post in reply to my article. It's music to my ears when I hear other Americans show their understanding of our unique trade dilemma that our President is working so hard to fix. It's not easy, but he keeps pushing it forward and so glad that he is.
Look forward to more posts from you on this and other topics of interest!
A Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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04-19-2018, 07:28 AM #4
NO TPP
ILLEGAL ALIENS HAVE "BROKEN" OUR IMMIGRATION SYSTEM
DO NOT REWARD THEM - DEPORT THEM ALL
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04-19-2018, 09:39 PM #5
Moving from General Discussion to Other Topics since no mention of immigration.
Welcome al3c!Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
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