US President Donald Trump said on Sunday that Washington and Tokyo were progressing very well in their trade talks, noting, however, that many issues would not be resolved until Japan holds elections to its upper chamber in July, reports Trend referring to Reuters
"Great progress being made in our Trade Negotiations with Japan. Agriculture and beef heavily in play. Much will wait until after their July elections to the Japanese upper house where I anticipate big numbers!" Trump tweeted.
Great progress being made in our Trade Negotiations with Japan. Agriculture and beef heavily in play. Much will wait until after their July elections where I anticipate big numbers!
Trump and his wife, Melania, are currently paying a four-day state visit to Japan. On Saturday, Japanese Economy, Trade and Industry Minister Toshimitsu Motegi and US Trade Representative Robert Lighthizer held trade negotiations in Tokyo.
The trade talks with Japan were triggered by the United States' withdrawal from the Trans-Pacific Partnership trade agreement in 2017. Without the deal, US farmers will not benefit from the same tariff exemptions as those countries that supported the agreement and signed a new trade deal.
Trump now wants to secure a bilateral trade agreement with Tokyo that would allow the United States to boost its agricultural exports to Japan. Tokyo, in turn, wants to prevent Trump from slamming import duties on Japanese cars and auto parts, which are one of the most important export products for Tokyo.