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Source: OFFICE OF THE U.S. TRADE REPRESENTATIVE, 4/12/13
Today, Acting U.S. Trade Representative Demetrios Marantis announced that the United States has completed its bilateral consultations with Japan regarding the Trans-Pacific Partnership (TPP):
“Since November 2011, the United States has been engaged in consultations with Japan focused on Japan’s readiness to meet the TPP's high standards for liberalizing trade and investment, and to address specific bilateral issues of concern in the automotive and insurance sectors, as well as other Japanese non-tariff measures.
“The United States and Japan have successfully completed these consultations by concluding a robust package of actions and agreements with Japan in the automotive and insurance sectors, as well as other non-tariff measures. As a result, we are pleased to welcome Japan’s participation in the TPP negotiations pending a consensus agreement among the current TPP members and the completion of our respective domestic processes. Japan’s entry into this important initiative for the Asia-Pacific region will help it to deliver significant economic benefits to the United States, Japan and the Asia-Pacific region."
Through the TPP, the United States and 10 other Asia-Pacific countries are seeking to negotiate an ambitious, next-generation, regional trade agreement. The TPP will support American jobs and reflect core U.S. values, and the addition of Japan will further distinguish TPP as the most promising platform for a Free Trade Area of the Asia Pacific. Decisions on new members are made by consensus of current TPP members.
Detailed information about the United States’ consultations with Japan can be found here. During consultations, on February 22, 2013, the two Governments issued a Joint Statement confirming that if Japan were to join the TPP, Japan would subject all goods to negotiation and join the current members in achieving a comprehensive, high-standard agreement.
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