US VP Pence Wants Quick Results in Japan US Trade Talks

U.S. Vice President Mike Pence on Tuesday put Japan on notice that Washington wants results “in the near future” from talks it hopes will open markets to U.S. goods, adding that the dialogue could lead to negotiations on a two-way trade deal.

U.S. President Donald Trump and Prime Minister Shinzo Abe arranged the economic dialogue between their deputies at a Washington summit in February, soon after Trump took office.

“Today we are beginning a process of economic dialogue, the end of which may result in bilateral trade negotiations in the future,” Pence told a news conference with Deputy Prime Minister Taro Aso, his counterpart at Tuesday’s talks.



“At some point in the future, there may be a decision made between our nations to take what we have learned in this dialogue and commence formal negotiations for a free trade agreement,” he said. “But I leave that for the future.”

The comments dash the hopes of Japanese policymakers, who have said they want to avoid use of the economic dialogue as a forum to discuss a bilateral FTA that may put them under U.S. pressure to open up highly-protected areas like agriculture.

via Reuters

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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