Donald Trump, President of the United States of America, said that the United States and Japan are very close to a high scale bilateral trade deal. Speaking shortly before having a conversation with the Prime Minister Shinzo Abe on the sidelines of the G7 summit which took place in Biarritz, France, Trump stated that the United States is very close to a major deal with Japan.
The two sides have been working on the major deal for five months as told by the US President to the reporters. Trump also said in his statement that the deal between Japan and the US is going to be one of the most important and major deal ever between the two.
Previously, Japan’s Minister in charge of trade, Toshimitsu Motegi, reported the deal with the US as great progress and it will be confirmed after the Trump-Abe meeting.
The two leaders enjoy friendly relations but Trump has frequently claimed that Tokyo has an unfair advantage in the bilateral trade practices. Both the sides have agreed that Japan is going to cut tariffs on US pork and beef to the Trans-Pacific Partnership (TPP) levels but the country will not send new quotas for butter and skim milk.
After a sudden withdrawal from the Trans-Pacific Partnership, 11 countries circling the Pacific last year signed on a slimmed-down version of the trade deal. The pact has been used as an antidote to growing US protectionism under Donald Trump. The United States eliminates the tax imposed on a wide range of Japanese Industrial products.