Taro Aso Won’t Agree On Free Trade Agreement with US

Forex News

Taro Aso (Japan’s Finance Minister) stressed that Japan shouldn’t resort to the FTA (free trade agreement) with the US in order to resolve trade imbalances. The Finance Minister is concerned, because if Japan ultimately agrees on the FTA, it would have to open its agricultural markets. Instead, Aso confirmed, that Japan is a supporter of multilateral trade frameworks.

Specifically, the Finance Minister said: "We want to avoid falling into a bilateral deal with the United States in exchange for exemptions from steel and aluminum tariffs”. Recently, the US President Donald Trump imposed tariffs on steel and aluminum imports and proposed a $60 billion tariffs on China’s goods. A few countries have been exempted from the tariffs and Japan has been trying to be in the list of those, but unsuccessfully.