Keidanren (Japan Business Federation) held its summer forum on July 21-22 in Nagano Prefecture. During the forum, many business leaders expressed concern about Donald Trump, who was officially nominated as presidential candidate of the U.S. Republican Party. They are feeling uneasy about the impact of Trump’s policy on the effectuation of the Trans-Pacific Partnership (TPP) Agreement and the purchase of energy.
With regard to Tramp’s statement that he will have the U.S. withdraw from the TPP, Mitsui & Co. Chairman Masami Iijima said, “It’s a serious situation for the free trade system.” In order to urge the U.S. to ratify the TPP at a “lame duck Congress” immediately after the presidential election in November, Sumitomo Corporation President Kuniharu Nakamura said, “It is desirable for Japan to pass the TPP-related bills by the end of October.”
The United States, which prohibits the export of resources, issues the export permit of liquefied natural gas (LNG) to countries that have concluded a free trade agreement (FTA) with it. If the U.S. annuls the TPP, Japan will not be a country concluding an FTA with the U.S. If so, “There is a risk that the permit will be revoked,” said Tokyo Gas Chairman Takeshi Okamato.
Chief Cabinet Secretary Yoshihide Suga stated on July 22, “We hope all countries, including the U.S., will secure domestic support for the TPP to push forward with the procedures.” (Slightly abridged)