The US and Japan and are looking to resolve matters to ensure that a Trans-Pacific Partnership (TPP) deal between 12 different states can be arranged during a ministerial meeting expected to take place sometime in July, a Senior Official for Japan has revealed.
A deal between Japan and the US, the world’s third-largest and largest economies respectively, is a key aspect to arranging the multilateral TPP pact, which would cover 40% of the world’s economy. As well as being Barack Obama’s strategic rebalance to Asia so other countries don’t fall to far behind China.
The areas of discussion will be for the US to gain access to Japan’s market for rice and other agricultural products, and for Japan to be able to import auto parts from the US. We are optimistic that these issues will be resolved quickly, and in time for closing TPP negotiations generally a spokesperson commented. After a Congressional campaign lasting just over 6 weeks, the US Senate voted in favour of granting Obama power to negotiate trade deals and hurry the process through Congress.