Japan, U.S. Leaders Reach Basic Accord on Trade
Biarritz, France, Aug. 25 (Jiji Press)--Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump on Sunday reached a basic accord on a proposed bilateral trade deal.
Tokyo and Washington aim to sign their trade agreement at the next bilateral summit to be held on the sidelines of a U.N. General Assembly session in New York in late September.
The two leaders had two rounds of bilateral talks Sunday on the margins of the three-day Group of Seven summit in Biarritz, southwestern France, that opened Saturday.
Under the accord, Japan will lower its tariffs on beef and pork imports from the United States to the same levels as promised under the Trans-Pacific Partnership free trade agreement, from which Washington withdrew.
The U.S. tariff of 2.5 pct on automobile imports from Japan will not be scrapped. But U.S. tariffs on many other industrial products will be removed or lowered.
[Copyright The Jiji Press, Ltd.]