US, Japan working on a small trade deal by September


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US, Japan working on a small trade deal by September

Officials of United States and Japan, the world’s first- and third-largest economy, had been working on a trade deal that might be agreed by Japan’s Prime Minister Shinzo Abe and US President Donald Trump as early as by next September, when they were scheduled to meet in New York, at least three industry sources with direct knowledge regarding the subject-matter had unveiled earlier on Wednesday, the 17th of July 2019.

As a matter of fact, the sources had also added in terms of anonymity, as they were not authorized to speak about the matter on public, that, the possible trade deal between US and Japan aimed to curb United States’ havoc-scale trade deficit with Tokyo, its No.

1 Asian ally, would likely to include US-borne agriculture products and Japan’s autos. Aside from that, an auto industry official had been quoted saying earlier during Asia-pacific trading hours on Wednesday (July 17th), that, the deal would likely to involve US farmers’ access into Japanese market in exchange for a tariff exempt on Japanese auto exports into United States.

In effect, such a deal would proffer a win over his struggling auto industry following arrest and dismissal of former CEO and Chair of Nissan Motor Co., Carlos Ghosn on alleged embezzlement of company fund and other financial misconducts, while assisting US President to shore up support among US farmers whose vote-base helped him to win over 2016’s presidential election despite sheer criticisms on Cambridge Analytica data breach and Russian meddling, ahead of a 2020 US presidential election.