Japan, U.S. Seek Compromise on Industrial Goods Tariffs
Newsfrom JapanEconomy Politics
Washington, June 20 (Jiji Press)--Japan and the United States tried to find middle ground in working-level negotiations on Thursday over lifting or cutting tariffs on vehicles and other industrial goods in efforts for a new bilateral trade agreement.
The talks come as the two sides prepare for the upcoming bilateral summit meeting and minister-level trade talks, to be held on the occasion of the Group of 20 summit in the western Japan city of Osaka on June 28-29.
Working-level officials from the two sides, including from the Japanese foreign and trade ministries, met in Washington to discuss what specific goods will be subject to tariff removal or reductions.
Japanese negotiators went on the offensive, as almost no tariffs are currently levied on industrial goods imported to Japan.
Japan requested the United States to swiftly eliminate its 2.5 pct tariffs on Japanese vehicles, as well as to immediately lift tariffs on major auto parts such as tires and engines, which are heavily exported to the U.S., according to informed sources.
[Copyright The Jiji Press, Ltd.]