17 Jul '17, 10am

Japan Pushes Ahead for Global Trade Deals, Leaving U.S. in Cold

Japan Pushes Ahead for Global Trade Deals, Leaving U.S. in Cold

Automotive manufacturing, beef, cheese and wine production — some of the United States’ most lucrative exports — are the negotiating points for two new mega-deals in the works between Japan, the European Union and other Pacific Rim nations. Last week Japan and the EU announced tentative plans for a new trade deal with a well-publicized hand shake. Its message to the U.S. and President Donald Trump was unmistakably clear: global trade deals can succeed and flourish without U.S. participation. The new Japan-EU Economic Partnership Agreement (JEEPA) is so far destined to be the largest of its kind, (second to the former TPP). It will eliminate 85 percent of agricultural tariffs for Japan, helping to slash the $1.1 billion it pays to the EU as tariffs. The deal will also increase the EU’s exports of textiles and clothing to Japan by 34 percent and Japan’s exports of cars and f...

Full article: http://www.triplepundit.com/2017/07/265290/

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