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Post by : Jyoti Gupta
Photo:AP
Japan and the United States are still deciding when to have their next important trade meeting. Japan’s main trade negotiator, Ryosei Akazawa, said they have not chosen a date yet. There is a rule that if they don’t make a deal by July 9, taxes on some Japanese products sold in the US will go up a lot.
Japan has to pay extra taxes on cars, steel, and aluminum, and starting July 9, an extra 24% tax will be added to other Japanese goods if they can’t agree. Akazawa is going to Washington soon to talk more about this. He said it’s not the end of the world if they don’t make a deal by that date because the US might give more time.
Before the recent Group of Seven (G7) meeting in Canada, Japan’s Prime Minister and the US President talked on the phone many times, but they did not make any deal. Japan says it will focus on what is best for the country and will not rush into an agreement just to meet the deadline.
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