Japan, US to Negotiate TPP this Weekend

Trade chiefs from the United States and Japan will meet this weekend in hopes of bridging the countries’ differences ahead of a key meeting for the Trans Pacific Partnership (TPP).

A ministerial conference on the TPP will commence in Singapore on February 22nd, but the two countries are still at odds over lifting tariffs on five key agricultural products, including rice. Japan remains committed to maintaining tariffs on those items, but the U.S. seeks to abolish all tariffs within the 12-member bloc.

On Saturday, Japanese Economy Minister Akira Amari will meet with U.S. Trade Representative Michael Froman in Washington to work on these issues.

Mr. Amari says that the upcoming ministerial conference is especially important as the fall U.S. midterm elections approach. He resolutely said that if this chance is lost, it could be gone forever.