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Japan’s parliament approves a trade pact with the U.S.
Japan’s parliament has approved a trade pact with the U.S. which would open the country’s markets to American beef and other agricultural products.
The U.S. has been pressing for the agreement to come into force by January 1; a way that could help Trump land votes for his 2020 re-election campaign in agricultural areas that may benefit from the deal.
Japan’s Prime Minister Shinzo Abe’s ruling Liberal Democratic Party coalition holds majorities in both houses of parliament and was able to win passage easily. However, the deal has been criticized by opposition lawmakers, who say it would give away bargaining chips without guarantee that Trump won’t impose so-called national security tariffs as high as 25% on the country’s auto sector.
The threat of punitive tariffs on the exports of cars and car parts, a $50 billion-a-year sector that is a cornerstone of the Japanese economy, pushed Abe to accept two-way trade talks with the U.S. after he failed to persuade Trump to return to a Pacific pact he had rejected.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
KYC Policy