Obama, Abe Fail to Bridge TPP Gaps During Tokyo Summit
President Barack Obama and Japanese Prime Minister Shinzo Abe failed to reach a compromise in Trans-Pacific Partnership negotiations during an April 24 summit in Tokyo, according to transcripts of a joint press conference. U.S. Trade Representative Michael Froman and lead Japanese negotiator Akira Amari will continue talks through April 25, said Abe.
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The ongoing U.S.-Japanese dispute over agricultural market access and automobile regulations are obstructing conclusion of the negotiations, said Abe. “The remaining issues must be overcome very quickly and resolved so that TPP as a whole can be concluded. We should cooperate and exert further leadership,” he said. “But we also hope to conclude the talks in a favorable way. We want to try to achieve conclusion of the talks as a whole.”
The two sides are closer to bridging those gaps following the bilateral talks, but the U.S. is continuing to pressure additional concessions, said Obama. “I think it’s fair to say that there are certain sectors of the Japanese economy -- agricultural sectors, the auto sector -- in which market access has been restricted historically, certainly compared to the market access that Japan has had to U.S. consumers,” said Obama. “And those are all issues that people are all familiar with, and at some point have to be resolved. I believe that point is now.” Obama will depart for South Korea on April 24, according a White House release.