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TOKYO -- Hoping to stand firm as it heads into pitched battle with the U.S. in Trans-Pacific Partnership negotiations, Japan aims to quickly reach deals with Australia and other nations that will leave some agricultural tariffs intact, something Washington opposes.
Plans are being coordinated to have U.S. President Barack Obama meet with Prime Minister Shinzo Abe in Japan on April 24. U.S. Trade Representative Michael Froman is expected to visit Japan as early as next week to talk with Economic and Fiscal Policy Minister Akira Amari and other officials to seek common ground so the two leaders can forge a basic agreement at their summit meeting.
With the U.S. heading into midterm elections this November, the Obama administration hopes to showcase its success in economic policies by making progress in the TPP free trade talks.
Japan aims to quickly ink deals with other strategic TPP countries before joining the U.S. at the table. Its priority is to form an economic partnership agreement with agricultural giant Australia as the nations' leaders prepare to meet in Tokyo on Sunday and Monday. Regarding beef -- one of the five core products for which Japan hopes to maintain tariffs -- Tokyo is expected to agree to lower its tariff on Australian beef to the 20% level, down from 38.5%.
If the two can reach compromises on sugar, dairy products and other key products through such measures as allowing Australia to boost shipments to Japan at lower tariffs, Tokyo may be able to fend off American demands that all tariffs be eliminated. The U.S. may be willing to compromise because failing to reach a TPP agreement could put U.S. beef at a disadvantage against Australian beef.
Japan also hopes to make progress on tariff discussions with Malaysia, Singapore and Vietnam before Obama's visit.
Source: nikkei