Wednesday, September 18, 2019

Trump says initial tariff deal agreed with Japan

AFP, Washington :
President Donald Trump on Monday said the United States had reached an initial agreement on tariffs with Japan, after often claiming that Tokyo has had an unfair advantage in bilateral trade.
Trump and Japan's Prime Minister Shinzo Abe last month said the deal was close to being completed, and that they hoped for a formal signing during the UN General Assembly later in September.
"I am pleased to report that my Administration has reached an initial trade agreement regarding tariff barriers… with Japan," Trump said in a letter to Congress released by the White House.
"I intend to enter into the agreement in the coming weeks."
Trump added that further negotiations would be held with Japan to secure "a comprehensive trade agreement that results in more fair and reciprocal trade."
The statement said an agreement had also been reached on digital trade, but it gave no details about US tariffs on Japanese cars. US officials have previously said the tariff agreement would benefit US farmers hit by the US-China trade war and who are an important group of voters for Trump's re-election bid in 2020.
Abe, an ally of Trump's, last month said the two nations had reached consensus after "intense" negotiations.