US, Japan postpone NY trade talks, source says

US, Japan postpone NY trade talks, source says

TOKYO,. Japan and the United States postponed their second round of trade talks in New York to today, a Japanese official said, amid concerns in Tokyo that Japan will face greater pressure to reduce the bilateral trade imbalance.

US Trade Representative Robert Lighthizer and Economy Minister Toshimitsu Motegi were scheduled to meet yesterday evening, ahead of a Wednesday summit between US President Donald Trump and Japanese Prime Minister Shinzo Abe, on the sidelines of a UN General Assembly meeting.

But the US side, citing Lighthizer’s schedule, asked to delay the meeting, which is now scheduled for 8:30am EDT (1230 GMT) today, the official, with direct knowledge of planning for the meeting, told Reuters.

Lighthizer and Motegi met in August, failing to narrow differences on whether to open up negotiations for a bilateral free trade agreement.

Abe, after a Sunday dinner with Trump, told reporters the two had constructive talks on trade, which Motegi and Lighthizer would continue.

Japan is hoping to avert any import curbs and potentially steeper US import tariffs on its cars, and fend off US demands for a free trade agreement.

Japanese media have said Japan is considering a bilateral agreement that would lower tariffs on US agriculture imports in exchange for avoiding higher tariffs on Japanese autos. — Reuters