Sunday July 22, 2018
Home Business Donald Trump ...

Donald Trump Negotiates Trade Deal With Japan

Trump to negotiate the trade deal with Japan

0
//
24
Donald Trump.
To Lower Drug Costs at Home, Trump Wants Higher Prices Abroad. (Wikimedia Commons)
Republish
Reprint

The US President Donald Trump announced on Wednesday he is negotiating a bilateral trade agreement with Japan and that his country would only re-enter the Trans-Pacific Partnership (TPP) if its member countries offered him a deal he could not refuse.

“I don’t want to go back into TPP. But if they offered us a deal I can’t refuse on behalf of the US, I would do it. In the meantime, we are negotiating, and what I really would prefer is negotiating a one-on-one deal with Japan,” Donald Trump said at a press conference with Japanese Prime Minister Shinzo Abe.

However, Abe stressed his country’s position towards the TPP, saying that it “is the best for both countries,” although he acknowledged the US’s interest in a bilateral trade deal, Efe reported.

Trump said that should his country reach a trade agreement with Japan, there will be talks about the possibility of ending tariffs on steel and aluminum imports, a move that Washington introduced in March to a number of countries, including Japan.

Donald Trump and Shinzo Abe.
U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe.

Trump added that his primary concern at the moment is the “massive” trade deficit with Japan, which amounted to “from $69 billion to $100 billion a year.”

In fact, the trade deficit with Japan last year stood at $69 billion, far from the $100 billion that the US President claimed, according to the official figures by the US Department of Commerce.

The two leaders made these announcements in a joint press conference at the tycoon’s private club Mar-a-Lago in Palm Beach, Florida, where Abe arrived on Tuesday to have meeting with Trump on his four-day visit to the US.

Also Read: China And Russia Accused of Manipulating Their Currencies By Trump

Last week, the White House announced that Trump had asked the US foreign trade representative Robert Lighthizer and the economic adviser Larry Kudlow to “take another look at whether or not a better deal (with the TPP) could be negotiated.”

However, Trump has shown little interest in negotiations that would further complicate the matter, since the other 11 countries that negotiated the original TPP, with the then Barack Obama administration, have already signed their own multilateral deal, the so-called Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), or TPP-11.

Shinzo Abe
FILE IMAGE- Shinzo Abe.

On the other hand, during this four-day visit Abe has a special interest in getting an exemption for Japan from the 10 per cent and 25 per cent tariffs that the Trump administration imposes on aluminum and steel imports, respectively.

Trump has granted a temporary exemption until May 1 to Argentina, Australia, Brazil, Canada, Mexico, South Korea and the European Union.

Also Read: White House Denies Any Direct Talks Yet Between Trump And Kim

Japan has been left out of the exempted countries despite being one of the US’s major allies, and for that reason Abe is trying to make use of his visit to secure a place on that list, although Japan barely produces aluminum and the amount of steel exported to the US stands at only around 5 percent of its total steel exports.  IANS

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

Japan Bans Smoking Inside Public Facilities, Seen By Critics as Pointless

The upper house approved and enacted the bill into law Wednesday after it was approved earlier by the lower house

0
Japan
The law will be implemented in phases through April 2020. VOA

Japan on Wednesday approved its first national legislation banning smoking inside public facilities, but the watered-down measure excludes many restaurants and bars and is seen by critics as toothless.

The legislation aims to lower secondhand smoking risks ahead of the 2020 Tokyo Olympics amid international calls for a smoke-free event. But ruling party lawmakers with strong ties to the tobacco and restaurant industries opted for a weakened version.

The upper house approved and enacted the bill into law Wednesday after it was approved earlier by the lower house.

Last month, Tokyo separately enacted a stricter ordinance banning smoking at all eateries that have employees, to protect them from secondhand smoke. The ordinance will cover about 84 percent of Tokyo restaurants and bars.

But the law still allows many exceptions and the Tokyo Games may not be fully smoke-free.

Japan often has been called a smokers’ paradise. Until now it has had no binding law controlling secondhand smoke and ranked among the least protected countries by the World Health Organization. That has brought pressure from international Olympic officials.

The new national law bans indoor smoking at schools, hospitals and government offices. Smoking will be allowed at existing small eateries, including those with less than 100 square meters (1,076 square feet) of customer space, which includes more than half of Japanese establishments. Larger and new eateries must limit smoking to designated rooms.

Violators can face fines of up to 300,000 yen ($2,700) for smokers and up to 500,000 yen ($4,500) for facility managers.

The law will be implemented in phases through April 2020.

Japan
The new national law bans indoor smoking at schools, hospitals and government offices. Pixabay

‘Too lenient’

The law allowing smoking at more than half of Japan’s restaurants as exceptions is inadequate, said Hiroyasu Muramatsu, a doctor serving on Tokyo’s anti-smoking committee. “The law is too lenient compared to international standards,” he told Japan’s NHK public television. “We need a full smoking ban.”

The health ministry’s initial draft bill called for stricter measures but faced opposition from lawmakers sympathetic to the restaurant industry. The government also was viewed as opposed to harsher measures because the former monopoly Japan Tobacco is still partly state-owned.

In Japan, almost a fifth of adults still smoke. The rate for men in their 30s to 50s is nearly twice as high, according to a government survey last year.

Also Read: Passive Smoking May Spike up Snoring Risk in Kids

Most office workers now light up only in smoking rooms or outdoors, and cities are gradually imposing limits on outdoor smoking in public areas. But most restaurants and bars in Japan allow smoking, making them the most common public source of secondhand smoke.

“Secondhand smoking has been largely considered an issue of the manners, but it’s not,” Kazuo Hasegawa, 47, a nonsmoker who has developed lung cancer, told NHK. “It’s about health hazards. It harms people. And I don’t want younger generations to have to suffer like me.”

In Japan, about 15,000 people, mainly women and children, die annually as a result of secondhand smoke, according to government and WHO estimates. (VOA)