Trump says U.S. reaches trade deals with Japan, no vote needed

Trump says U.S. reaches trade deals with Japan, no vote needed

Trump says U.S. reaches trade deals with Japan, no vote needed

U.S. President Donald Trump said on Monday that the United States has reached initial trade agreements with Japan on tariff barriers and digital trade.

Aso said that the currency provision won't be included in Japan-US trade deal.

US Treasury Secretary Steven Mnuchin and Japanese Finance Minister Taro Aso attend the International Monetary Fund and World Bank's 2019 Annual Spring Meetings, in Washington, April 13, 2019.

After meeting Japanese Prime Minister Shinzo Abe at the G-7 summit in France last month, Trump announced that the two countries had struck a trade deal "in principle".

U.S. Trade Representative Robert Lighthizer has said the limited trade deal will cover agriculture, industrial tariffs and digital trade.

"We are aware of the internal process that is going on in the USA and the president's notice of the U.S-Japan trade negotiations", Motegi told reporters in Tokyo on Tuesday.

That accord will not require legislative approval and will likely resemble the provisions of other trade deals such as the US-Mexico-Canada Agreement, according to William Reinsch, a former Commerce Department official now at the Center for Strategic and International Studies.

On a critical issue to Japan, Trump's announcement left unclear whether he has agreed not to impose threatened national security tariffs on Japanese vehicles and auto parts.

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Japanese Foreign Minister Toshimitsu Motegi, the country's point man for the trade talks with Washington, said Tokyo wanted to see the Trump administration lay to rest the threat of new auto tariffs before agreeing to a final trade deal.

The two leaders said at the G7 summit in France that they hoped to sign the agreement at this month's United Nations General Assembly in NY.

Coming to terms with Japan is especially important because Trump withdrew from an earlier Pacific trade deal called the Trans-Pacific Partnership (TPP) on his fourth day in office.

Trump's letter said that the USA would pursue further trade negotiations with Japan.

"On October 16, 2018, my Administration notified the Congress that I meant to initiate trade negotiations with Japan on a United States-Japan Trade Agreement", Trump said in the Monday statement.

Those provisions aim to ensure the free flow of data across borders without taxation, prohibit data server localisation requirements and limit governments' ability to demand companies disclose their source code.

For Trump, the signing of even a partial trade deal with Japan centered largely on agriculture would provide some relief to USA farmers who have been battered by a 14-month U.S. Ford Motor Co. withdrew from the market in 2016 after years of woeful results, which it blamed on Japanese trade barriers.

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