Japan Open to Bilateral Trade Agreement with U.S.
Japan’s Prime Minister told the nation’s parliament this week he is open to a bilateral trade agreement with the United States. Prime Minister Shinzo Abe says he is “not afraid” of a free trade agreement with the U.S. if it benefits Japan, according to online newspaper Japan Today. Abe made the comments following a visit to the United States to meet with U.S. President Donald Trump. The two leaders agreed to launch high-level economic dialogue, including possibly discussing bilateral trade framework.
U.S. President Trump prefers bilateral trade deals over multilateral deals, such as the Trans-Pacific Partnership he withdrew the U.S. from last month. However, analysts in Japan predict that compared to trade negotiations involving multiple nations, Japan may find itself facing harsher demands from the United States in bilateral talks.