TOKYO (AP) – The United States (US) hopes to deepen trade ties with Japan as it fortifies cooperation on economic security with its Asian allies and partners, the top US trade envoy said yesterday.
US Trade Representative Katherine Tai’s visit to Tokyo, her fourth since she was appointed, follows a trip to the Philippine capital, Manila, to help fortify trade relations among the three countries as they build both economic and defence ties.
Speaking yesterday at the Foreign Correspondents Club of Japan, Tai pointed to a new trade partnership that she said has brought “tangible results for our workers, small businesses, and producers on both sides of the Pacific”.
That includes an agreement to lift limits on US exports of beef to Japan and a new biofuels policy to facilitate exports of more ethanol to Japan. On Wednesday, Tai met with Japanese Foreign Minister Yoshimasa Hayashi to discuss making supply chains more resilient and secure, the Japanese Foreign Ministry said in a statement.
Tai also reviewed the status of negotiations on the Indo-Pacific Economic Framework (IPEF), a new trade pact proposed by Washington, emphasising the importance of cooperation with Japan, the ministry said.
The framework has 13 members, including the US, that account for 40 per cent of global gross domestic product: Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam.
Hayashi responded by welcoming more US engagement in the regional economy, saying Japan will proactively discuss the plan with other partners.
Japan and the US have been promoting multilateral cooperation, recently with the Philippines as they share common concern over China’s growing influence and assertiveness in both security and economic activities.
