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Trump says bilateral deals are far more efficient than TPP

Trump says bilateral deals are far more efficient than TPP

Posted April. 19, 2018 07:38,   

Updated April. 19, 2018 07:38


The main agenda of the second-day meeting between the United States and Japan is likely to be focused on trade.

Before starting the bilateral summit with Japan, U.S. President Donald Trump told reporters on Tuesday (local time) that the two leaders will discuss the bilateral trade relationship between the two nations. Trump revealed his intention of discussing trade imbalances with Japan by saying that although Japan is purchasing American military equipment and the United States is buying automobiles from Japan, the two countries still need to talk about trade issues.

President Trump has been slamming Japan over trade imbalances between the two countries. The United States did not exempt Japan from steel and aluminum tariffs even though Japan is a key U.S. ally.

Japanese media outlets viewed that Japanese Prime Minister Shinzo Abe will explain Japan’s stance and ask the United States to exempt Japan from its plan to impose tariffs on imports of steel and aluminum and, at the same time, will propose setting up a new framework to discuss trade and investment issues.

But after the state dinner with the Japanese leader, Trump wrote on his Twitter, “While Japan would like us to go back into TPP, bilateral deals are far more efficient than TPP,” adding that “Too many contingencies and no way to get out if it doesn't work. Bilateral deals are far more efficient, profitable and better for OUR workers. Look how bad WTO is to U.S."

Meanwhile, Nihon Keizai Shimbun reported that it is highly likely that President Trump will demand negotiation of a U.S.-Japan bilateral free trade agreement again.

Young-A Soh sya@donga.com