US Hopes Japan Will Compromise Further in TPP Negotiations

October 28, 2014 Share Print 0

U.S. Trade Representative Michael Froman said Monday he hopes that Japan will make a further compromise to pave the way for concluding Trans-Pacific Partnership free trade negotiations.

Prime Minister Shinzo Abe’s government considers the TPP as one of pillars of its growth strategy, Froman noted, while praising efforts by Akira Amari, minister in charge of TPP talks.

The challenges are “to translate the bold vision that Prime Minister Abe has laid out into similarly ambitious objectives,” Froman said in an interview held at the end of a three-day ministerial meeting of the 12 TPP-negotiating economies in Sydney.

Asked about whether Japan has made bold decisions in talks related to the TPP, Froman replied “not yet,” pinning hopes on further compromises by Tokyo, especially in negotiations on tariffs on Japan’s key farm products.

Broad accord may be delayed

A broad agreement on a TPP pact may be delayed until next year, Amari indicated Monday.

via Japan News

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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.