HomeBusinessUnited States may agree for “No tariffs rise on Japanese Cars”

United States may agree for “No tariffs rise on Japanese Cars”

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The United States will agree not to raise tariffs or introduce curbs to import quotas on Japanese cars when the country’s leaders meet next week, the Tokyo Shimbun newspaper reported on Monday.

The newspaper said the pledge would be part of a joint leaders’ statement on trade that is due to be released following a meeting between U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe next week in New York.

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Washington and Tokyo agreed to the core elements of a trade deal last month on the sidelines of a Group of Seven Summit, with Trump and Abe saying they hoped to sign an agreement this month.

As part of the limited trade deal, Tokyo would make concessions on agricultural imports from the United States while Washington would refrain from raising tariffs on Japanese cars as Trump had threatened to do earlier.

The agreement, if finalized, would lessen trade frictions between the two allies at a time when the United States is locked in a trade war with China.

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Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.
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