US to seek trade agreements with Japan, European Union, UK: USTR

  • Wednesday, October 17, 2018
  • Source:ferro-alloys.com

  • Keywords:U.S,trade agreement, Japan, EU, UK
[Fellow]US to seek trade agreements with Japan, European Union, UK: USTR

[ferro-alloys.com]The US will begin separate trade agreements with Japan, the European Union and the United Kingdom, the US Trade Representative (USTR) said Tuesday.

Ambassador Robert Lighthizer wrote to Senator Chuck Schumer (Democrat-New York), Senator Orrin Hatch (Republican-Utah), Representative Paul Ryan (Republican-Wisconsin) and Representative Nancy Pelosi (Democrat-California) of intentions to begin trade negotiations Tuesday. The letters serve as an official notification to Congress of the Administration's plans.

All three trading partners are currently subject to Section 232 tariffs on steel and aluminum. There has been hope in both industries that trade negotiations will resolve these issues, though the updated US-Mexico-Canada agreement did not lead to the removal of these duties from Mexico and Canada.

Lighthizer called the announcement "an important milestone" in a Tuesday statement, and underscored that the move came at the request of US President Donald Trump.

"We are committed to concluding these negotiations with timely and substantive results for American workers, farmers, ranchers and businesses," Lighthizer said.

The letters to Congress said that negotiations with Japan and the EU will begin "as soon as practicable, but no earlier than 90 days from the date of this notice." USTR said that formal talks with the UK will begin after March 29, when the UK is scheduled to leave the European Union.

USTR said that it wishes to tackle "both tariff and non-tariff barriers to achieve fairer, more balanced trade" in talks with Japan and the EU, highlighting large US trade deficits with both partners. The Japan letter specifically pointed to US exporters in the automotive, agricultural and service sectors, saying they have "been challenged by multiple tariff and non-tariff barriers for decades."

USTR will also release its objectives for the talks at a minimum of 30 days before formal discussions begin, the agency said.

  • [Editor:王可]

Tell Us What You Think

please login!   login   register
  • Buy & Sell

 
Please be logged in to comment!