Japan White Paper Calls for New Int'l Order in Trade

Economy

Tokyo, July 16 (Jiji Press)--A Japanese government report stressed on Tuesday the urgent need to create a new international order in trade to tackle a situation where concerns are growing over protectionism, apparently referring to U.S. President Donald Trump's "America First" trade policy.

The 2019 white paper on trade called for a framework that would not isolate the United States, which has adopted an increasingly inward-looking trade strategy.

The report explained that the United States last year imposed additional tariffs on steel imports on national security grounds and slapped punitive duties on Chinese products.

The factors behind these moves are China's policy to give preferential treatment to domestic companies and the U.S.-China competition for dominance in technology industries, said the white paper, which was submitted to the day's cabinet meeting by Economy, Trade and Industry Minister Hiroshige Seko.

The report noted that skepticism about free trade and frustration over economic disparities are growing.

[Copyright The Jiji Press, Ltd.]

Jiji Press