Japan, US target broad bilateral deal by September

Japan has called for abolition of US tariffs on its industrial goods such as car parts. (Reutes)
Updated 05 August 2019
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Japan, US target broad bilateral deal by September

  • Cen Exereicitatur magnam, tem eum quid quam eseque solorit, ut lam ratemos reratem incimus.

TOKYO: Japan and the US have agreed to target a broad deal on bilateral trade by September, seeking to bridge differences of opinion over tariffs on beef and the automobile sector, the Nikkei business daily reported on Sunday.

As part of a drive to rectify what he claims are unfair global trade imbalances, US President Donald Trump has been urging Tokyo to accelerate trade talks that would open up Japan’s politically sensitive agriculture sector, as well as curbing Japan’s US-bound auto exports.
The agreement to target a deal by September was reached during a meeting between Japanese Economy Minister Toshimitsu Motegi and US Trade Representative Robert Lighthizer in Washington, the Nikkei said, citing unidentified negotiating sources.
The paper said both sides hope to have a broad trade deal in place by the time Japanese Prime Minister Shinzo Abe meets US President Donald Trump on the sidelines of UN general assembly scheduled for later in September in New York.

HIGHLIGHTS

• The agreement to target a deal was reached during a meeting between Japanese economy minister and US trade representative in Washington.

• Both sides hope to have a broad trade deal in place by the time Japanese prime minister meets US president on the sidelines of UN general assembly.

• Washington seeks early opening of Japan’s agriculture sector including reductions in 38.5 percent tariffs on US beef imports.

On Friday, Motegi told reporters after meeting Lighthizer that the two sides made “significant progress” in narrowing their differences on trade and agreed to hold another ministerial-level meeting later this month.
Washington seeks early opening of Japan’s agriculture sector including reductions in 38.5 percent tariffs on US beef imports, while Japan calls for abolition of US tariffs on Japan’s industrial goods such as car parts.
Trump and Abe could also look at producing some kind of trade accord later this month when they may meet on the sidelines of Group of Seven leaders’ summit, the Nikkei added.


Sudan launches 9-month economic rescue plans

Updated 23 September 2019

Sudan launches 9-month economic rescue plans

  • The measures will include rationalizing spending and tackling of inflation
  • Subsidies for bread or petrol would continue until around June 2020

KHARTOUM: Sudan’s transitional government will launch in October a 9-month economic rescue plan to stabilize the economy, Finance Minister Ibrahim Elbadawi said on Monday.
The measures will include rationalizing spending and tackling of inflation, Elbadawi said, adding that subsidies for bread or petrol would continue until around June 2020.