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	<title>Toshimitsu Motegi - Garner Ted Armstrong Evangelistic Association</title>
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		<title>Japan, Britain sign free trade deal for post-Brexit era</title>
		<link>https://www.garnertedarmstrong.org/japan-britain-sign-free-trade-deal-for-post-brexit-era/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=japan-britain-sign-free-trade-deal-for-post-brexit-era</link>
		
		<dc:creator><![CDATA[Channel News Network (CNA)]]></dc:creator>
		<pubDate>Fri, 23 Oct 2020 10:49:22 +0000</pubDate>
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		<category><![CDATA[United Kingdom of Great Britain]]></category>
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		<category><![CDATA[Free trade deal (UK-Japan)]]></category>
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		<category><![CDATA[Toshimitsu Motegi]]></category>
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		<guid isPermaLink="false">http://www.garnertedarmstrong.org/?p=37229</guid>

					<description><![CDATA[<p>TOKYO: Japan and Britain signed a bilateral free trade deal on Friday (Oct 23) in the first such major post-Brexit deal, reducing tariffs on Yorkshire lamb sold in Japan, as well as auto parts for Japan&#8217;s Nissan plant. &#8220;How fitting it is to be in the Land of the Rising Sun to welcome in the dawn...</p>
<p>The post <a href="https://www.garnertedarmstrong.org/japan-britain-sign-free-trade-deal-for-post-brexit-era/">Japan, Britain sign free trade deal for post-Brexit era</a> first appeared on <a href="https://www.garnertedarmstrong.org">Garner Ted Armstrong Evangelistic Association</a>.</p>]]></description>
										<content:encoded><![CDATA[<p>TOKYO: Japan and Britain signed a bilateral free trade deal on Friday (Oct 23) in the first such major post-Brexit deal, reducing tariffs on Yorkshire lamb sold in Japan, as well as auto parts for Japan&#8217;s Nissan plant.</p>
<p>&#8220;How fitting it is to be in the Land of the Rising Sun to welcome in the dawn of a new era of free trade,&#8221; British International Trade Secretary Liz Truss told reporters at a signing ceremony in Tokyo.</p>
<p>Appearing with Japanese Foreign Minister Toshimitsu Motegi, Truss called the agreement a &#8220;landmark&#8221; as the first major trade deal for Britain since it returned as an independent trading nation.</p>
<p>The deal, estimated to boost British trade with Japan by £15 billion (US$19.5 billion), will also make it easier for British companies to operate in Japan.</p>
<p>Financial services make up Britain’s biggest export to Japan, now at 28 percent. English sparkling wine, made-in-Britain coats, and shoes, Stilton cheese, as well as pork and biscuits from Britain, will become cheaper in Japan.</p>
<p>Motegi said the bilateral deal ensures continuity from the preceding European agreement while adding new areas for cooperation such as e-commerce and financial services.</p>
<div class="c-rte--article" data-css="c-rte">
<p>Japan&#8217;s existing free trade agreement with the European Union includes Britain only until the end of this year, as it exits the EU.</p>
<h3><a href="https://www.channelnewsasia.com/news/business/britain-and-eu-to-try-to-rescue-post-brexit-trade-talks-13311594?cid=h3_referral_inarticlelinks_24082018_cna" target="_blank" rel="noopener noreferrer">READ: EU chief negotiator warns &#8216;little time left&#8217; as Brexit stalemate drags on</a></h3>
<p>Parliamentary approval is needed in both nations before the agreement takes effect from the beginning of next year. It is expected in Japan next week, as the ruling party controls both houses of parliament.</p>
<p>Japan already exports about ¥1.5 trillion (US$14 billion) of goods to Britain, mostly autos, auto parts, and other machinery, while importing nearly ¥1 trillion worth from Britain, including pharmaceuticals, medical products, and cars, according to the Japanese Foreign Ministry.</p>
<p>Tariffs on Japanese autos are removed gradually and will not become zero until 2026, the same as the terms of the deal Japan has with the EU.</p>
<p>Japan has repeatedly expressed concern about Japanese businesses in Britain, which include Hitachi, with plants making railway cars for East Coast trains, and Nissan Motor, employing several thousand workers at its Sunderland auto plant.</p>
<p>Motegi went to Britain in August, his first overseas trip amid the coronavirus pandemic, during which he stressed the importance for reaching a trade deal quickly.</p>
</div>
<p><span class="article__source">Source: AP/dv<br />
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<p>Source: <a href="https://www.channelnewsasia.com/news/business/japan-britain-uk-free-trade-deal-fta-brexit-13349464" target="_blank" rel="noopener noreferrer">https://www.channelnewsasia.com/news/business/japan-britain-uk-free-trade-deal-fta-brexit-13349464</a></p>
[<a href="https://www.garnertedarmstrong.org/news/disclaimer/" target="_blank" rel="noopener noreferrer">Disclaimer</a>]<p>The post <a href="https://www.garnertedarmstrong.org/japan-britain-sign-free-trade-deal-for-post-brexit-era/">Japan, Britain sign free trade deal for post-Brexit era</a> first appeared on <a href="https://www.garnertedarmstrong.org">Garner Ted Armstrong Evangelistic Association</a>.</p>]]></content:encoded>
					
		
		
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		<title>Japan struggles to avoid Trump&#8217;s tariff threat as deadline looms</title>
		<link>https://www.garnertedarmstrong.org/japan-struggles-to-avoid-trumps-tariff-threat-as-deadline-looms/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=japan-struggles-to-avoid-trumps-tariff-threat-as-deadline-looms</link>
		
		<dc:creator><![CDATA[Aljazeera]]></dc:creator>
		<pubDate>Sun, 22 Sep 2019 08:29:24 +0000</pubDate>
				<category><![CDATA[Far East]]></category>
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		<category><![CDATA[Donald Trump]]></category>
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		<category><![CDATA[Japan]]></category>
		<category><![CDATA[Section 232 (TEA)]]></category>
		<category><![CDATA[Shinzo Abe]]></category>
		<category><![CDATA[Tariffs]]></category>
		<category><![CDATA[Toshimitsu Motegi]]></category>
		<category><![CDATA[Trade Expansion Act (TEA)]]></category>
		<category><![CDATA[Trans-Pacific Partnership (TPP)]]></category>
		<category><![CDATA[United States (US)]]></category>
		<category><![CDATA[US-Japan relations]]></category>
		<category><![CDATA[US-Japan trade]]></category>
		<guid isPermaLink="false">http://www.garnertedarmstrong.org/?p=29038</guid>

					<description><![CDATA[<p>Higher tariffs on Japanese cars, the country&#8217;s biggest export to the US, are still being negotiated. US President Donald Trump has been adamant about reducing its trade deficit with other nations, while two-thirds of Japan&#8217;s trade surplus with the US comprises vehicle sales [File: Kiyoshi Ota/Bloomberg] Japan&#8216;s Prime Minister Shinzo Abe may have averted giving away too...</p>
<p>The post <a href="https://www.garnertedarmstrong.org/japan-struggles-to-avoid-trumps-tariff-threat-as-deadline-looms/">Japan struggles to avoid Trump’s tariff threat as deadline looms</a> first appeared on <a href="https://www.garnertedarmstrong.org">Garner Ted Armstrong Evangelistic Association</a>.</p>]]></description>
										<content:encoded><![CDATA[<p>Higher tariffs on Japanese cars, the country&#8217;s biggest export to the US, are still being negotiated.</p>
<p><img decoding="async" src="https://www.aljazeera.com/mritems/imagecache/mbdxxlarge/mritems/Images/2019/9/10/2e32ace03f9143f2a1977fb32aab18ae_18.jpg" alt="US President Donald Trump has been adamant about reducing its trade deficit with other nations, while two-thirds of Japan's trade surplus with the US comprises vehicle sales [File: Kiyoshi Ota/Bloomberg]" /><br />
US President Donald Trump has been adamant about reducing its trade deficit with other nations, while two-thirds of Japan&#8217;s trade surplus with the US comprises vehicle sales [File: Kiyoshi Ota/Bloomberg]
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<div id="body-190513113123309" class="article-p-wrapper">
<p><a href="https://www.aljazeera.com/topics/country/japan.html">Japan</a>&#8216;s Prime Minister <a href="https://www.aljazeera.com/topics/people/shinzo-abe.html">Shinzo Abe</a> may have averted giving away too much in trade talks with <a href="https://www.aljazeera.com/topics/country/united-states.html">United States</a> President <a href="https://www.aljazeera.com/topics/people/donald-trump.html">Donald Trump</a> but Tokyo is struggling in advance of a late-month deadline to achieve its primary goal: get the unpredictable president to drop threats of punitive car tariffs.</p>
<p>Even after announcing a preliminary deal with Abe on August 25, Trump left open the possibility of slapping higher duties on Japanese vehicles, a mainstay of the world&#8217;s third-biggest economy and by far Japan&#8217;s biggest export to the US.</p>
<p>Trump and Abe are seeking a final agreement in time for their expected meeting on the sidelines of the United Nations General Assembly later this month.</p>
<p>But negotiators have only just begun working out details, such as how much tariffs will be cut for which items, Japanese government officials familiar with the negotiations told the Reuters news agency.</p>
<p>A deal this month could be tricky, as there&#8217;s little time to nail down the wording for politically sensitive areas such as farm products and cars, and clear any legal hurdles, the officials say.</p>
<p>&#8220;There&#8217;s really no deal between the two countries yet,&#8221; one official said. &#8220;Negotiations have only just begun.&#8221;</p>
<p>Trump and Abe announced their <a href="https://www.aljazeera.com/ajimpact/japan-denies-giving-trade-talks-190826064013563.html">agreement</a> on the core principles of the deal, with Tokyo promising to cut tariffs on US agricultural products and Washington doing likewise on select industrial goods from Japan.</p>
<p>Japan managed to keep tariff cuts on US beef and pork imports within levels granted to signatories of the multilateral Trans-Pacific Partnership (TPP) deal &#8211; meeting a pledge Abe had made to domestic producers.</p>
<p>Tokyo also skirted pressure, at least for now, to agree to avoid currency &#8220;devaluations&#8221; &#8211; a demand of US legislators that would have tied Japan&#8217;s ability to intervene in currency markets should the yen spike and threaten the country&#8217;s export-reliant economy.</p>
<p>And it only took a commitment from Abe to front-load already planned purchases of US corn imports to allow Trump to claim victory in announcing the preliminary deal.</p>
<p>&#8220;It&#8217;s a very big transaction,&#8221; Trump said, alongside Abe on the sidelines of a summit in France of the G7 leading industrialized nations. &#8220;It&#8217;s billions and billions of dollars. Tremendous for the farmers.&#8221;</p>
<p>Japanese officials say the country&#8217;s total feed corn imports won&#8217;t increase as a result of the deal, which simply front-loads three months&#8217; worth of roughly 2.75 million tonnes of imports.</p>
<p>As private companies have the final say in how much feed corn they import, the government will only facilitate purchases by subsidizing storage fees, they say.</p>
<p>Japan imports roughly 11 million tonnes of feed corn a year, of which 95 percent come from the US, data by the Finance Ministry shows. That is worth about 254 billion yen ($2.4bn), suggesting three months of front-loading would have a negligible effect on Japan&#8217;s 6.5 trillion yen ($60.4bn) trade surplus with the US.</p>
<p>&#8220;It&#8217;s not fake, but it&#8217;s not a fundamental solution&#8221; to address the huge US trade deficit with Japan, said one of the officials familiar with the negotiations. &#8220;The whole point is to make Trump happy.&#8221;</p>
<p>Some Japanese officials said they were uncertain whether such sweeteners would have a lasting effect on Trump, who has made it a priority to fix the huge US trade deficit with other countries.</p>
<p>Among the steps, he has taken is a threat to slap higher tariffs on vehicles and parts imported from Japan under Section 232 of the Trade Expansion Act, on national security grounds. About two-thirds of Japan&#8217;s trade surplus with the US is made up of cars.</p>
<p>For Japan, the whole point of signing a two-way trade deal with the US is to avoid the higher tariffs. After several rounds of negotiations, Washington promised Tokyo it would not impose the tariffs while trade talks continue.</p>
<p>Trump said last month he would not &#8220;immediately&#8221; impose the higher vehicle tariffs, but wouldn&#8217;t confirm the decision was permanent.</p>
<p>Japan&#8217;s Minister for Economic Revitalization Toshimitsu Motegi has said the issue would be dealt with &#8220;in the final stages of negotiations,&#8221; suggesting that talks on the vehicle tariffs would continue.</p>
<p>Japanese policymakers and legislators involved in the negotiations concede that they had little idea how to get assurance from Trump that he would drop his threat of higher vehicle tariffs.</p>
<p>Another concern they have is the possibility, albeit slim, that Washington could set import curbs on Japanese automobiles, which would devastate the country&#8217;s export-reliant economy.</p>
<p>&#8220;It&#8217;s very hard for negotiators,&#8221; a second official said. &#8220;Trump could change his mind at any time.&#8221;</p>
</div>
<div class="article-body-artSource">
<p>SOURCE: REUTERS NEWS AGENCY</p>
<hr />
<p>Source: <a href="https://www.aljazeera.com/ajimpact/japan-struggles-avoid-trump-tariff-threat-deadline-looms-190910011920547.html" target="_blank" rel="noopener noreferrer">https://www.aljazeera.com/ajimpact/japan-struggles-avoid-trump-tariff-threat-deadline-looms-190910011920547.html</a></p>
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