To bolster bilateral ties with the United States, Japan is making an offer that they might not refuse. Through the Trans-Pacific Partnership (TPP), a tariff cut on 90 percent of imports has been offered. Once sealed, it would be the highest cut Japan has offered, surpassing the cut for the Philippines.
Both TPP members – the U.S. and Japan – have been on the roll to strengthen security and now trade partnership. Only goods under agriculture as well as meat products have been excluded from the tariff cut. Those specifically not included were dairy products, beef, pork, sugar, and rice, as Japan wants to protect these goods to secure the domestic sector.
Japan and the U.S. are expected to schedule bilateral meeting on Friday through Monday with regard to the tariff cuts offered by the former. Besides the United States, Japan has agreed to cut 88.4 percent of tariffs for the Philippines within ten years. Japan has also exchanged cuts with Brunei, Malaysia, Mexico, New Zealand, Peru, and Singapore during the 19th round of TPP talks last month. The average cut on tariffs was 80 percent. The TPP members – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam – will come to an initial agreement in October, while trade agreements will be concluded before the year ends.