Business, Freight News

NFTC Statement on Limited U.S.-Japan Trade Agreement

[ October 2, 2019   //   ]

National Foreign Trade Council (NFTC) President Rufus Yerxa issued the following statement following the announcement by the Administration regarding the limited U.S.-Japan trade deal:

“We are pleased to see that the U.S. and Japan have come to an agreement that demonstrates the leadership of both countries in high-standard digital trade rules and gives certain U.S. farmers and ranchers greater access to the Japanese market.

“However, we are concerned about the limited nature of the deal, which falls short of the comprehensive nature of traditional U.S. trade agreements as it lacks commitments on non-tariff barriers, intellectual property and other regulatory concerns.

“Significantly, the agreement also fails to address the threat of damaging and counterproductive tariffs on autos and auto parts, which would be inconsistent with this new deal. We look forward to reviewing the text of what has been agreed to by the U.S. and Japan and we urge the Administration to continue working toward a broader agreement that benefits the entire U.S. economy.”