Japan Farm Minister Asks For US concessions in TPP

Agriculture, Forestry and Fisheries Minister Koya Nishikawa on Tuesday requested the United States to make concessions at bilateral talks on an envisioned Trans-Pacific Partnership free trade agreement.

If economic cooperation progresses without causing pains to the agriculture, fishery and forestry industry, it would be better to conclude an agreement early, Nishikawa told a news conference.

“I hope the United States will take a step” toward a bilateral agreement, he said, requesting U.S. concessions on Japanese tariffs and import restrictions.

Each of the 12 member states that participate in TPP negotiations has its own sensitivities, Nishikawa said, stressing that Japan will stick to a Diet resolution calling on the government to maintain tariffs on key agricultural products.

Japan and the United States began bilateral working-level farm trade talks in Tokyo Tuesday. The top agenda item is the treatment of the key products, including rice and pork.

Separately, Japanese TPP minister Akira Amari said the United States is sounding out Japan on a possible bilateral ministerial meeting.

Tokyo and Washington will continue to urge their top TPP negotiators to narrow the gap between them to pave the way for the possible ministerial meeting, he added.Speech

via Japan News

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza