Japan Upper House Starts Deliberations on Trade Deal with U.S.
Tokyo, Nov. 20 (Jiji Press)--Japan's House of Councillors started deliberations Wednesday on a trade agreement with the United States that was approved by the House of Representatives the previous day.
At Wednesday's Upper House plenary meeting, Prime Minister Shinzo Abe reiterated the government's plan to revise by the year-end a policy package that it adopted to ease the Trans-Pacific Partnership trade pact's impact on the domestic farming sector, in order for the package also to mitigate the impact of the Japan-U.S. trade deal.
Under the bilateral deal, which was signed last month, Japan will step up the liberalization of its agricultural markets to U.S. goods, while the United States will reduce or remove its tariffs on Japanese industrial products, albeit excluding automobiles and auto parts.
"We aim to leverage the latest trade agreement for economic growth," the prime minister said, expressing the government's readiness to use a planned supplementary budget to strengthen the foundations of agricultural production, including pioneering new markets.
The opposition camp has criticized the government for failing to include in the deal the abolition of U.S. automotive tariffs on Japan.
[Copyright The Jiji Press, Ltd.]