TPP Ministers Agree on Japan's Entry into Talks
Trans Pacific Partnership countries formally agreed to bring Japan into the regional trade talks, provided each country successfully concludes its respective domestic procedures, TPP ministers announced April 20. The group met on the margins of the Asia-Pacific Economic Cooperation meeting. Negotiators will be directed to accelerate progress on the difficult sections of the agreement -- including intellectual property, state-owned enterprises, government procurement and the environment -- according to a statement from TPP ministers. Japan’s entry into the talks boosts the TPP’s overall potential, Acting U.S. Trade Representative Demetrios Marantis said in a statement (here). He said USTR “looks forward to consulting with our Congress and our stakeholders” as countries look to wrap up TPP talks this year.
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House Ways and Means Ranking Member Sandy Levin, D-Mich., meanwhile, urged Congress and the Administration to probe both the opportunities and problems posed by Japan’s participation (here). Levin has been an active critic of Japan’s restrictive automotive market (see 13041222). “…given the huge trade deficit between our two countries and Japan's history of the most closed auto market in the world, and the negative economic consequences of that history, the onus is precisely on Japan to change before receiving any benefit through TPP negotiations,” Levin said in a statement.
At the APEC meeting, held in Indonesia April 20-21, member countries crafted a list of goals, including working towards better connectivity and supporting the multilateral trading system, and reiterated support for the World Trade Organization. Read the APEC trade minister’s statement (here).