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ECONOMY > Trade

Japanese business leaders alarmed by Donald Trump’s anti-TPP stance

Saturday morning’s Nikkei reported on page 3 on a forum held on July 21-22 by the Japanese Business Federation, or Nippon Keidanren, during which many voiced concerns about the official nomination of Donald Trump as the Republican presidential candidate. The paper said Japanese business leaders are alarmed that if Trump is elected president, the ratification of the TPP and Japan’s energy procurement will become extremely difficult. Mitsui & Co. Representative Director Iijima reportedly commented on Trump’s recent announcement that he will have the U.S. withdraw from the TPP, saying that “this is an alarming situation for the free trade system.” Sumitomo Corporation President Nakamura reportedly said Japan should pass the TPP-related bills by the end of October in order to encourage the USG to ratify the treaty during the “lame-duck” session of Congress after the presidential election in November. Noting that the U.S., which bans exports of natural resources, allows exports of LNG to nations that have signed FTAs with the U.S., the paper said Japan will no longer be a signatory country of the FTA if the TPP is nullified and the approval for LNG exports to Japan is cancelled.

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