Abe, Trump Sign Paper Confirming Japan-U.S. Trade Deal

Politics Economy

New York, Sept. 25 (Jiji Press)--Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump on Wednesday signed a document confirming their countries' final agreement on a bilateral trade pact, after only about a year since the two leaders agreed on the launch of negotiations.

Abe and Trump also affirmed that the United States will not impose additional tariffs on automobiles and auto parts shipped from Japan while the trade pact is in effect.

Under the trade pact, Japan maintained its agricultural market liberalization on par with levels of the Trans-Pacific Partnership free trade pact among 11 countries.

The United Sates stopped short of abolishing its tariffs on Japanese imported vehicles, a step it had promised under the TPP framework, from which Washington withdrew in 2017.

"The outcome of this negotiation is a win-win solution," Abe said after signing the document. "We will be able to develop both economies of Japan and the United States as we move forward."

[Copyright The Jiji Press, Ltd.]

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