Thursday, December 12, 2024
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Japan and US to negotiate trade pact

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United Nations: Japan agreed Wednesday to negotiate a trade pact with the United States, easing fears that President Donald Trump would zero in on the US ally for his next tariff offensive.
Japanese Prime Minister Shinzo Abe and Trump, meeting on the sidelines of the annual UN General Assembly session, said they would open talks on goods with a view to building freer trade.
In a joint statement, Trump and Abe pledged to “refrain from taking measures against the spirit” of their understanding for as long as negotiations go on.
Abe, addressing reporters afterward, said Japan understood that the agreement meant the United States would not take any action under so-called Section 232 — a US legal clause, of which Trump has become fond, that allows Washington to restrict imports due to concerns over national security.
“We must not set the hands of the clock backward,” Abe said, calling instead for the two countries to “reinvigorate our mutual trade and investment.”
The Japanese Prime Minister formed an early bond with President Trump after the real estate tycoon’s unexpected election victory, with the two leaders since chatting more than two dozen times on the telephone, according to officials. (AFP)

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