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  HOME | Business & Economy (Click here for more)

Trump Pushes for New Trade Agreement with Japan

TOKYO – US President Donald Trump called on Monday on Japan to negotiate a new trade deal after decades of what he called lopsided trade between the two countries.

During a meeting with Japanese and US business leaders, Trump said that the US “has suffered massive trade deficits at the hands of Japan for many, many years.”

Trump added that his administration wants “free and reciprocal trade” with Japan, “but right now our trade is not free and it’s not reciprocal.”

The US leader added that he wanted to negotiate a new deal, albeit in “a very friendly manner.”

Trump complained that the US has suffered from “massive trade deficits” of almost $70 billion annually which “for the last many decades, Japan has been winning.”

The president pointed out that millions of Japanese cars are sold in the US every year but almost no US-made cars are sold in Japan.

Trump also commented on his administration’s decision earlier this year to withdraw from the Trans-Pacific Economic Cooperation Agreement, saying the TPP “was not the right answer.”

“We will have more trade than anybody ever thought under TPP,” Trump told a group of executives from Japanese companies such as Nissan, Honda, Mazda and Mitsubishi, and nine Americans companies, including Boeing and Morgan Stanley.

The US president arrived in Japan on Sunday, the first stage of his tour of Asia, which will also see him visit South Korea, China, Vietnam and the Philippines.

 

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