Abe: U.S., Japan Close to TPP Trade Deal

According to Wall Street Journal article, (Abe: U.S., Japan Close to TPP Trade Deal) of the various countries associated with TPP, the United States and Japan are close to reaching a feasible trade agreement.  In April of 2015, negotiators from both countries met in Tokyo and were said to have made great progress closing “significant gaps” between the two.  There are two major commodities that seem to have put the decision on standby being, rice and the automobile industry.  Based on the article’s description, the U.S. wants Japan to import more rice while Japan wants the Unites States to reduce the 2.5% tariff on auto parts.  Japan won’t agree to their TPP merits unless Congress agree’s to eliminate the tariff, yet Congress wants Japan to agree first, but there’s no guarantee Congress will give Japan what it wants if they sign first.  To make matters more pressing, Japan has been the aggressor for reaching an agreement primarily as the TPP deal shows promise of boosting the country’s economy significantly.  Hopefully, both countries can agree on something soon that doesn’t leave anyone getting “the short end of the stick.”

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