Japan, US launch talks for bilateral trade deal

WASHINGTON -- Japan and the United States on Monday started the first round of negotiations for a bilateral trade agreement, which President Donald Trump's administration sees as a way to reduce the U.S. trade deficit with Japan.

In the two-day meeting in Washington, the two governments are expected to discuss the scope of their future talks rather than focus on specifics, according to Japanese officials.

Japan has said the two sides aim for a trade agreement on goods only, but the United States has called for a comprehensive pact that would cover a range of areas such as goods, services, investment and currency.

Japan is represented by economic revitalization minister Toshimitsu Motegi, while U.S. Trade Representative Robert Lighthizer negotiates on behalf of the Trump administration.

Speaking to reporters Saturday, U.S. Treasury Secretary Steven Mnuchin said he expects Tokyo and Washington to look into a "broad agenda" in reflection of their "broad economic relationship."

Motegi and Lighthizer met as U.S. agriculture lobbies have stepped up calls on the administration to take measures to increase access to the Japanese market.

A revised Trans-Pacific Partnership -- an 11-member free trade agreement including Japan and farming nations such as Australia and Canada -- as well as an FTA between Japan and the European Union have put American farmers and ranchers at a disadvantage.

Trump withdrew the United States from the TPP in 2017, citing a preference for bilateral trade deals.

Although Mnuchin said any agreement with Japan would include a requirement to refrain from manipulating currencies to gain an advantage in international trade, Japanese officials have said they have no plans to include a currency provision in a trade deal with the United States.

Mnuchin also indicated Washington is unlikely to push Tokyo for export restraint on automobiles by setting quotas.

Source: https://mainichi.jp/english/articles/20190416/p2g/00m/0fp/009000c