Japan eyes Pacific trade pact concessions as talks with U.S. begin




 
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Japan eyes Pacific trade pact concessions as talks with U.S. begin
 
February 18th, 2014  
News Manager
 

Topic: Japan eyes Pacific trade pact concessions as talks with U.S. begin


Japan eyes Pacific trade pact concessions as talks with U.S. begin
Japan could make concessions on tariffs on some sensitive farm products, a key cabinet minister said on Tuesday, as U.S. and Japanese officials began talks ahead of next-week's high-level multilateral negotiations on a U.S.-led free trade deal. A deal between the United States and Japan, the two biggest economies taking part in talks on the Trans-Pacific Partnership (TPP) pact, is vital if a broad agreement is to be clinched at talks among all 12 participants in Singapore from Monday. The United States had hoped to wrap up the TPP, which aims to cut tariffs in countries forming 40 percent of the world economy and set common standards on other issues, by the end of last year. But obstacles remain over issues including Japanese protection of sensitive agricultural products, such as rice, and U.S. automakers' fears of increased competition from Japan.




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