TPP Singapore Summit Fails to Broker Japanese Auto Access Consensus, Says Froman
The U.S. is making progress in expanding the Japanese auto market for U.S. exporters, but negotiators have yet to achieve the access the U.S. requires in a final Trans-Pacific Partnership (TPP) pact, said U.S. Trade Representative (USTR) Michael Froman in a Dec. 10 conference call with reporters. “And on other market access issues, there is also further work to be done,” said Froman. Froman previously called for conclusion of TPP negotiations by the end of 2013 (see 13111516). However, TPP ministers and heads of delegation in a Dec. 10 statement conceded that target would not be met (see 13121017).
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The negotiators did not discuss currency manipulation during the Dec. 6-10 TPP summit in Singapore, said Froman, adding that the Treasury Department leads the effort to address currency. But the negotiators left the summit with “great momentum,” according to Froman. “Our focus is on working to finish this with all 12 countries, and of course there are additional countries that have expressed interest in joining down the road,” said Froman. “And I think all 12 countries are focused on doing that.”