US To Push Bilateral FTA With Japan

Forex News

U.S. ambassador William Hagerty stated that the United States and Japan will "move rapidly" when in comes to working on a new trade deal that should improve bilateral trade consultations. Donald Trump and Shinzo Abe are planning to create a new framework that suggests bilateral trade led by U.S. Trade Representative Robert Lighthizer and Economy Minister Toshimitsu Motegi.

William Hagerty adds: "Trade is very important to us. I think we're going to move rapidly toward getting something done on trade. The president is, as you know, a man of action and expects us to get results quickly. I think Mr. Abe understands that".

Some note that new framework will push Japan to negotiate a so called FTA (bilateral free trade agreement). Japan wouldn’t want that. Instead, it will try to offer Washington to rejoin the TPP (Trans-Pacific Partnership pact). Plus, Japan fears to open up politically sensitive markets like agriculture. But, the US is likely to push that as well.

Toshimitsu Motegi said the talks under the new framework won't start until mid-June.