Japan, United States push towards a broad bilateral trade deal by September

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Japan, United States push towards a broad bilateral trade deal by September

Despite a tempestuous trade outlook over the North-Pacific trade-triangle between Japan and South Korea, where United States seems to be caught in a crossfire between two of its largest Asian trade allies, Washington and Tokyo had reached an accord to work out a broad bilateral trade deal by September as an attempt to resolve potential conflict of interests over tariffs on automobile sector and beef, isolating South Korea further on US imports, a Nikkei Business Daily report published on Sunday, the 4th of August 2019, had unveiled.

In fact, latest progress on US-Japan trade talk to fix a trade dispute what US President Donald Trump was calling as an unfair global trade imbalance came forth a few days after Trump had urged his Japanese counterpart, Shinzo Abe, to shore up Japan’s US-bound auto exports and to open up its politically sensitive agriculture sector.

According to Nikkei Business Daily’s Sunday’s (August 4th) report, recent agreement between the world’s first- and third-largest economy, United States and Japan, reached during a meet between US Trade Representative Robert Lighthizer and Japan’s Economy Minister, Toshimitsu Motegi in Washington, would be aiming a deal as early as by September.

Citing unnamed sources, the Nikkei report had also added that both sides expressed sheer optimism to rubberstamp a deal later on September in New York, when Japanese Prime Minister Shinzo Abe was scheduled to meet US President Donald Trump over the sidelines of a United Nations’ General Assembly.