TOKYO: Japan’s parliament approved a trade pact with the US that opens the country’s markets to American beef and other agricultural products, as Tokyo tries to thwart a threat from Donald Trump to impose new tariffs on its lucrative car exports.
Prime Minister Shinzo Abe’s ruling Liberal Democratic Party coalition holds majorities in both houses of parliament and was able to win passage easily. American agricultural producers, also reeling from bad weather and low commodity prices, are a core component of Trump’s political base. Under the current deal, Japan is set to lower or abolish tariffs on US beef, pork, wheat and wine, while maintaining protection for its rice farmers.A second pact that was approved simultaneously aims to provide a legal foundation for smooth digital trade between the world’s largest and third-largest economies.
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