Japan has rejected a proposal from the United States to eliminate its tariffs on Japanese light vehicles over 30 years, simply because the time period is unusually long, according to a report by Kyodo News. The proposal came up during bilateral trade discussion considered as critical for a broader regional pact, the Kyodo report said, citing sources privy with the matter.
Japan and the US are seeking a bilateral agreement – seen as a cornerstone of the Trans-Pacific Partnership -- before President Barack Obama visit the Asian nation on April 24-25. US Trade Representative Michael Froman and Japanese Economics Minister Akira Amari have concluded discussion, with both declaring that big gaps remain despite progress.
While US wants Japan to open its rice, beef and pork, dairy and sugar sectors, Japan wants a timetable on US promises to eliminate tariffs of 2.5 percent on imports of passenger cars and 25 percent on light trucks.
Japan wants Amari to take a trip to the US to hold another round of talks next week, according to Chief Cabinet Secretary Yoshihide Suga. The TPP framework is considered as vital part of Japanese Prime Minister Shinzo Abe's growth strategy. [source: JapanTimes]