Trump aiming to rebalance trade relationship and reduce chronic US trade deficits with Japan.
President Donald Trump said on Friday it is possible that the United States and Japan could reach a new bilateral trade deal by the time he visits Tokyo in May, but he and Japanese Prime Minister Shinzo Abe cited areas where they differ on trade.
Abe's visit, which is to include a round of golf on Saturday with Trump, is to set the stage for a trip to Japan that Trump is taking in late May to celebrate Crown Prince Naruhito's becoming the new emperor of Japan.Naruhito is set to become Japan's emperor on May 1. He will assume the throne after his father, Emperor Akihito, abdicates on April 30.
Still, areas of tension surfaced during their session with the news media. Trump cited Japanese tariffs on American agricultural products as an irritant, and Abe brought up US tariffs on Japanese autos. Abe pointed out that while Japan has no tariffs on American autos,"the United States has put on 2.5 percent tariffs on Japanese autos," and said he would like to proceed toward a"mutually beneficial outcome" in the trade talks."We are trying to bring some balance to the surplus that they have with the United States for many, many years, but it'll all work out," he said.
Looking ahead to the June 28-29 Group of 20 meeting in Osaka, the two agreed to seek a summit agreement on key issues, including trade, the digital economy, the issue of maritime plastic waste, infrastructure investment, and women’s empowerment, said the official, who did not want to be otherwise identified.
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