Japan agreed to framework trade pact with US without any concession



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Japan agreed to framework trade pact with US without any concession

Tokyo and Washington had agreed to a broad framework of trade agreement which could be rubberstamped as early as next month, while Japan offered concessions on US farm goods, but United States didn’t ease tariffs on Japanese autos, a report of Japan’s Nikkei Business Daily published on Saturday, the 24th of August 2019, had revealed.

In point of fact, the report came shortly after Motegi had told reporters on Friday (August 23rd) in Washington that he alongside US Trade Representative Robert Lighthizer had made “big progress” over their three-day-talk that ended earlier on Friday (August 23rd).

Further into the bid, according to Saturday’s (August 24th) Nikkei business daily report, US Trade Representative Robert Lighthizer and Japan’s Finance Minister Toshimitsu Motegi had agreed to a draft trade agreement in Washington on Friday (August 24th), while Japan approved a declined tariff on US beef, nonetheless, Washington made no such promise to avert or decline tariffs on Japanese autos.

Besides, without citing any source, the Japanese business daily newspaper had also added that recently reached trade agreement between the world’s first- and third-largest economy would be announced at a meet of Japanese Prime Minister Shinzo Abe and US President Donald Trump as early as by tomorrow (August 25th) over the sidelines of a G7 summit in Biarritz, France.