Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi on Friday said that he had had productive trade talks with US Trade Representative Robert Lighthizer and that they planned to meet again next month.
Both acknowledged the importance of expanding trade between the two nations, he said.
“We agreed to seek ways to promote Japan-US trade by working out gaps between the two nations and expand areas to cooperate based on shared understanding,” Motegi told reporters after two days of talks in Washington.
“We will continue talks and proceed further at next meeting we plan to hold in September,” he said, adding that the atmosphere of the meeting with Lighthizer was “very good” and “energetic.”
Motegi also said that he and Lighthizer had exchanged views on individual trade areas, but nothing had been decided.
The US Trade Representative’s office said in a statement that the two sides had “frank discussions” on their respective views about trade and investment, and achieved a better understanding of each other’s positions.
“Based on these discussions, both sides agreed to explore ways to fill the gap between their positions and to promote trade between the United States and Japan, and expand areas of cooperation based on common understanding,” the office said.
The next round of “consultations” would be held sometime in September, it said.
The talks launched a round of what the two sides call “free, fair and reciprocal” negotiations, and fall within broader bilateral economic discussions led by US Vice President Mike Pence and Japanese Deputy Prime Minister Taro Aso.
US President Donald Trump wants a bilateral free trade agreement, but Tokyo is wary because such an agreement would boost pressure to open sensitive markets such as agriculture.
Japan went into the talks aiming to avert steep tariffs on its car exports threatened by Trump while fending off US demands to engage in bilateral talks toward a bilateral free-trade agreement.
Trump has complained about Japan’s US$69 billion trade surplus with the US and the inability of US car makers to sell significant volumes in Japan.
However, Trump’s Section 232 national security investigation into automotive imports could lead to tariffs of 25 percent on imported cars, including those from Japan.
The investigation has raised concerns that the Japanese, European and US economies could be harmed by a possible tariff increase.
Japan has also urged Washington to return to the multilateral Trans-Pacific Partnership deal after Trump withdrew the US from the trade pact last year.
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