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ECONOMY > Trade

Motegi opposes “managed trade,” currency clause in new trade talks with U.S.

  • December 30, 2018
  • , Nikkei
  • JMH Summary

Nikkei published on Sunday an interview with Economic Revitalization Minister Motegi. In response to a question on the new Japan-U.S. trade talks, Motegi was quoted as saying: “We are opposed to measures that may lead to managed trade. We have made this clear to the U.S. side. (The currency clause) did not come up during the Japan-U.S. summit in September and was not included in the joint statement issued after the summit.” Motegi reportedly also stated that if at the trade talks the U.S. demands tariff reduction for agricultural products on par with the TPP agreement before the U.S.’s withdrawal, Japan will demand tariff reduction for industrial products on par with the agreement. Insisting that the trade talks will not be negotiations for a FTA, Motegi also said that issues in the service sector will be limited to those relating to the facilitation of trade, such as customs procedures, that can be resolved along with issues in the trade of goods. Motegi was quoted as saying: “We do not foresee taking up finance, insurance, and other service industries requiring structural reforms. This sector and the scope of the trade talks will be discussed after negotiations on goods are concluded. There should be no concern that Japan will make unilateral concessions or end up with a FTA.”

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