Japan, US launch trade partnership amid China's economic advance; to address joint issues

United States and Japan on Wednesday, 17 vember launched a key initiative to facilitate regular dialogue on issues related to tre that are critical to both nations amid China’s ecomic vance. Japanese Foreign Ministry said in a statement that framework of US-Japan Partnership on Tre is a Director-General level framework for both nations’ cooperation in area of tre among Japanese Ministry of Foreign Affairs, Ministry of Ecomy, Tre and Industry and Office of United States Tre Representative.

It ded, “In this framework, we will discuss issues such as Japan-U.S. common global nda in area of tre, cooperation in Indo-Pacific region as well as bilateral tre cooperation between Japan and United States.”

ditionally, US Tre Representative Karine Tai, who is visiting Japan for first time since assumption of office in March, said, “Our close collaboration will support Biden-Harris ministration's ecomic framework for Indo-Pacific and help create sustainable, resilient, inclusive, and competitive tre policies that lift up our people and ecomies.” According to Kyodo News, in an apparent reference to China, Japan and US have repeatedly raised issue of “market-distorting practices” at meetings of Group of Seven (G7) nations and or talks.

US, Japan launch talks to dress steel, aluminium overcapacity

Meanwhile, United States and Japan have commenced talks to dress matters concerning excess capacity in global steel and aluminium market, said Office of US Tre Representative (USTR). As per Sputnik, official release by USTR stated, “United States Tre Representative Karine Tai and United States Secretary of Commerce Gina M. Raimondo today anunced start of consultations with Japan to dress global steel and aluminium excess capacity, take effective measures to ensure long-term viability of our steel and aluminium industries, and find solutions to strengn our democratic alliance.”

Both American and Japanese officials will reportedly also work to find solutions to bilateral issues considering steel and aluminium tariffs. US and Japan have also expressed intention to take beneficial actions that would restore market-oriented conditions, USTR stated. official release also ded that US officials have raised concerns about China and its role in supporting tre-distorting n-market policies that furr threaten American steel and aluminium industries.

(IM: AP)