Posted on : Saturday 7th March 2020 05:25 AM
Japan's trade negotiator stated Friday Washington won't be demanding any numerical constraints on Japanese auto exports to the U.S.
Toshimitsu Motegi, the economy minister, told reporters he had affirmed this by speaking with U.S. Trade Representative Robert Lighthizer.
The comments could not instantly be confirmed after office hours in the U.S. Earlier, media reports said this was a possibility.
Autos are a great issue in trade discusses between the two countries that started after President Donald Trump pulled out of the Trans-Pacific Partnership trade bloc. Japan is part of the TPP and has a trade contract with the European Union.
The trade surplus with the U.S. is actually a sticking point in bilateral relations. Trump is scheduled to visit Japan later this month.
The administration sees the danger of the auto tariffs and some other restrictions as a way to acquire leverage on trading partners such as the European Union and Japan in ongoing trade talks.
A decision on whether the White House will impose tariffs on autos from Europe is due by Saturday. CNBC, referring to unnamed sources, earlier stated that the administration was close to announcing a postponement of the auto tariffs for up to six months.
This article is originally posted on manufacturing.net