Trade Agreements: US gives Japan nod for mega trade pact

WASHINGTON: The United States gave Japan the green light on Friday to enter talks on a Pacific trade agreement, in a key step forward for a pact that would account for nearly 40% of the global economy. The two countries announced concessions for Japan to join negotiations on the 11-nation, US-driven Trans-Pacific Partnership, despite opposition from some US manufacturers and labour groups and Japan’s powerful farmers. Under the Trans-Pacific Partnership guidelines, all 11 nations engaged in the negotiations need to approve before Japan participates. Japan agreed that US tariffs on Japanese cars would be phased out at the latest possible time allowed by a future accord. In turn, the US will talk to Japan about non-tariff barriers it believes keep out US cars, such as non-transparent regulations.

Published in The Express Tribune, April 14^th, 2013.

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