The reciprocal rates of President Donald Trump have helped open trade negotiations between the United States and one of its key economic partners: Japan.
Last week, Trump announced reciprocal tariffs, a policy that makes the United States establish tariffs based on the rate that each country in the world imposes on the United States for Japan, the rate rate in the United States is now 24 percent.
As a result, Japanese Prime Minister Shigeru Ihiba is looking to negotiate trade with Trump administration.
“Countries around us are talking to us. Difficult but fair parameters are being established. He spoke with Japanese prime minister this morning. He is sending a superior team to negotiate!” Trump wrote in Truth Social. “They have treated the United States very poor in commerce. They do not take our cars, but we take millions of their own. Similarly, agriculture and many other things.” Everything has to change, but especially with China! “
Social truth
Similarly, the Treasury Secretary Scott Besent said that he and the United States commercial representative (USTR) Jamieson Greer have had the task of “opening negotiations to implement the president’s vision for the new golden age of global trade with [Japanese Prime Minister] Shigeru ishiba and his cabinet. “
“Japan remains among the closest allies in the United States, and I look forward to our next productive commitment with respect to rates, non -tariff commercial barriers, currency problems and government subsidies. I appreciate the Japanese process and measurement”, China for its reprisal approach:
China has chosen to isolate retaliation and duplication of previous negative behavior. Around 50 countries have responded openly and positively to the historical action of @potus @realdonaldrump to create a more fair and prosperous global trade system. We expect significant negotiations with them during the next week. [Emphasis added]
The United States trade negotiations with Japan are critical since commercial deficits have continued to eliminate US jobs.
“Each of $ 1 billion in exports to another country in the United States supports some US jobs. However, each of $ 1 billion in imports from another country leads to the loss of employment, by eliminating existing work and preventing new employment creations, since imports displace goods that would otherwise have been carried out in the United States by the United States”, note of researchers of the Institute of Economic Policies (EPI).
Last year, the US trade deficit with Japan was more than $ 68 billion. The previous year, the United States commercial deficit with Japan reached more than $ 71 billion. Already, this year, the United States commercial deficit with Japan is $ 11.5 billion.
John Binder is a Knitbart News reporter. Send an email to jbinder@breitbart.com. Follow it on Twitter here.
