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[size=36]Japan's House of Representatives approves trade deal with America[/size]
Economy | 01:51 - 19/11/2019
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TOKYO (Reuters) - Japan's lower house of parliament on Tuesday approved Prime Minister Shinzo Abe's limited trade deal with the United States, paving the way for next year's tariff cuts on goods including US agricultural goods and Japanese equipment.
But there is uncertainty about how much progress Japan can make in negotiating the abolition of US duties on Japanese cars and components, casting doubt on Abe's assertions that the deal he signed with US President Donald Trump was “win-win”.
Japan and the United States last month formally signed the limited trade agreement to cut tariffs on US farm goods, Japanese machinery equipment and other products to ward off the threat of raising US tariffs on cars.
Thereafter, the House of Councilors will vote on the government proposal to approve the trade deal, but approval by the powerful House of Representatives increases the chances of its entry into force in January.
The deal would strengthen Trump's position to show his success to voters, but Abe said the deal would benefit Japan like the United States.
After the deal was approved, Japan and the United States have four months to consult on further talks, and Trump has said he wants more trade talks with Japan after the initial deal.
But there is uncertainty about how much progress Japan can make in negotiating the abolition of US duties on Japanese cars and components, casting doubt on Abe's assertions that the deal he signed with US President Donald Trump was “win-win”.
Japan and the United States last month formally signed the limited trade agreement to cut tariffs on US farm goods, Japanese machinery equipment and other products to ward off the threat of raising US tariffs on cars.
Thereafter, the House of Councilors will vote on the government proposal to approve the trade deal, but approval by the powerful House of Representatives increases the chances of its entry into force in January.
The deal would strengthen Trump's position to show his success to voters, but Abe said the deal would benefit Japan like the United States.
After the deal was approved, Japan and the United States have four months to consult on further talks, and Trump has said he wants more trade talks with Japan after the initial deal.
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