Japan and US in Trade Talks but Deal is Looking Unlikely

August 21, 2019 Share Print 0

Japan and the United States will seek to narrow gaps on trade when their top negotiators meet this week, but hopes for a deal in September are fading as both sides fail to make concessions on agriculture and automobiles, sources say.

Japanese Economy Minister Toshimitsu Motegi and U.S. Trade Representative Robert Lighthizer will hold two-day talks in Washington D.C. from Wednesday, which will be their second meeting this month.

The talks aim to lay the groundwork for a possible meeting　between Japanese Prime Minister Shinzo Abe and U.S. President　Donald Trump on the sidelines of a Group of Seven summit later　this month in France, where the two could discuss trade.

As separate trade talks with China and Europe have made little headway, Trump is keen to clinch an early deal with Japan that would open up its politically sensitive agriculture sector, as well as curbing Japan’s U.S.-bound auto exports.

via Reuters

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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.