Japan-U.S. Trade Deal May Come into Force on Jan. 1
Newsfrom JapanEconomy Politics
New York, Sept. 25 (Jiji Press)--U.S. Trade Representative Robert Lighthizer said Wednesday that he expects a Japan-U.S. trade agreement will come into force on Jan. 1, 2020.
Japanese Prime Minister Shinzo Abe and U.S. President Donald Trump signed a document confirming their countries' final agreement on the bilateral pact at a meeting in New York on Wednesday.
Lighthizer told reporters that the trade agreement will be effectuated "on Jan. 1," if Japan completes its approval procedures in an extraordinary session of parliament that will start in October.
The Trump administration plans to take a special measure to put the trade deal into force without receiving approval from Congress, through the use of presidential authority, as congressional deliberations are likely to be stalled, with the Senate and the House of Representatives controlled by different political parties.
Regarding additional U.S. tariffs on imported Japanese vehicles that may be imposed by the Trump administration on the grounds of national security, Lighthizer said that the auto tariffs are not part of the agreement "at this point."
[Copyright The Jiji Press, Ltd.]