;
Home / Knowledge / News / Textiles / US, Japan to negotiate trade agreement

US, Japan to negotiate trade agreement

28
Sep '18
Shinzo Abe (left) with Donald Trump. Courtesy: website of Prime Minister of Japan
Shinzo Abe (left) with Donald Trump. Courtesy: website of Prime Minister of Japan
Japan recently agreed to negotiate a trade pact with the United States when Japanese Prime Minister Shinzo Abe met US President Donald Trump on the sidelines of the annual UN General Assembly session. In a joint statement, both pledged to “refrain from taking measures against the spirit” of their understanding for as long as negotiations go on.

Japan understands that the agreement implies the United States will not take any action under Section 232, a US legal clause, that allows the country to restrict imports due to concerns over national security, Abe told reporters later.

Abe called for the two countries to ‘reinvigorate’ mutual trade and investment.

“The president is not going to join the TPP [Trans-Pacific Partnership]. But this is a very important step, in terms of expanding our relationship with Japan,” according to US Trade Representative Robert Lighthizer.

“The United States and Japan will enter into negotiations, following the completion of necessary domestic procedures, for a United States–Japan Trade Agreement on goods, as well as on other key areas including services, that can produce early achievements,” said the joint statement.

However, a news agency reported that the proposed trade deal will only focus on goods and will not be a full-fledged free trade agreement, a much more complex and time-consuming deal that also looks at the service sector.

Both the nations together make up about 30 per cent of global gross domestic product and have long had trade ties.

In the joint statement, the United States raised concerns about automobile access and Japan highlighted sensitivities over the former’s tightly protected agricultural sector. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pxhere

Textiles | On 24th Jan 2019

Cabinet okays National Bench of GST Appellate Tribunal

The Union Cabinet, chaired by Prime Minister Narendra Modi, has...

Piyush Goyal likely to present Interim Budget 2019-20

Textiles | On 24th Jan 2019

Piyush Goyal likely to present Interim Budget 2019-20

Minister of railways Piyush Goyal is likely to present Interim Budget ...

Courtesy: Pxhere

Textiles | On 24th Jan 2019

China's textile & apparel exports up 3.5% in 2018

Textile and apparel exports from China increased by 3.5 per cent...

Interviews View All

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search