Japan, U.S. Agree to Create Framework to Expand Trade
New York, Sept. 25 (Jiji Press)--Japan and the United States agreed on Tuesday to create a framework, including tariff talks, for expanding trade between the two countries.
The two governments reached the accord at the second round of their "free, fair and reciprocal," or FFR, ministerial trade dialogue in New York.
The meeting came at a time when trade issues are becoming a source of friction between Japan and the United States, with U.S. President Donald Trump having voiced his frustration at his country's massive trade deficit with Japan.
"We basically shared the view on a framework and steps for boosting bilateral trade," Japanese economic revitalization minister Toshimitsu Motegi, who represented Japan at the New York meeting, told reporters after the one-hour talks.
Tokyo and Washington are aiming to reach a formal agreement to form the framework, at a meeting between Japanese Prime Minister Shinzo Abe and Trump here on Wednesday, with a relevant statement expected to be announced after the bilateral summit.
[Copyright The Jiji Press, Ltd.]