politics

Japan estimates trade pact with U.S. will raise GDP by 0.8%

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It's about time that the prices of pork, beef and dairies should go down. The farmers are receiving too much protection from the gov't in the form of subsidies that only benefited the ruling political party like the LDP's in the past. If not for the incremental changes in the late 80's thru 90's, we would have not experienced these affordable yakiniku's and gyudon as we have today. We used to managed to afford those exorbitant prices before because of the ratio of our salaries against the prices. Back then the average salaries was 6 million yen per annum but at present, some households are even living on a meager 3 million yen per annum. Now is the time for more competition. If another trade deal with the UK will be ratified more goods from other countries, more choices for our taste buds and more freedom for our pockets.

-1 ( +2 / -3 )

Good deal, but if it's too good to be true....If I was Abe, I would get it in writing 'no increase in auto tariffs' before signing anything ;-).

1 ( +1 / -0 )

The figures were calculated on the assumption that U.S. tariffs on Japanese cars and auto parts will be scrapped, although this has yet to happen under the current version of the agreement.

The seventh in this statement, ‘assumption’ makes this whole article a load headline grabbing malarkey.

The production of Japanese beef and other dairy products is going to be severely cut putting many farmers into dire straights, but these jokers base their GDP growth on the fact they ‘assume’ Americans are going to buy more Japanese cars. They seem to forget that all the recent scandals and fraud involving faulty Japanese cars has severely damaged the reputation and popularity of Japanese cars. Dreams are free Japan!

-2 ( +2 / -4 )

As always - myopic focus on GDP ...money! No thought for supporting domestic food production - already in crisis.

When with our 'leader' consider the quality of development not just quantity - regardeless on how much inequality, environmental damage etc etc it entails.

2 ( +2 / -0 )

The only good hard cheeses you can get in this country are in Costco.

American beef rocks, but if you let the Japanese butchers at it, they truly do butcher some fantastic meat and make it not edible.

1 ( +1 / -0 )

The production of Japanese beef and other dairy products is going to be severely cut putting many farmers into dire straights, but these jokers base their GDP growth on the fact they ‘assume’ Americans are going to buy more Japanese cars. They seem to forget that all the recent scandals and fraud involving faulty Japanese cars has severely damaged the reputation and popularity of Japanese cars. Dreams are free Japan!

These calculations are base on the steady economic nos. for the past couple of years. For each coin, there are 2 side. 'assume’ Americans are going to buy more Japanese cars and 'assume’ Americans are NOT going to buy more Japanese cars. But if the 25% tariffs is slapped the latter will cease to be an assumption.

We are living in an open global markets now. Industrial countries are scrambling to have economic trade deals everywhere to find the market for their products. Our top export worldwide are cars, about $100 billion. Next is vehicle parts, about $30 billion last year. In 2016, roughly 40% of that was exported in US alone base upon non tariff fact. If the US slaps its tariff of 25% , that could have broad repercussions for Japans huge automotive industry. PM Abe has no choice but to play by the book which the past gov't tried to avoid for decades.

As I have mentioned before, the protection of farmers is the hot focal point here. The past gov''t relied on their votes in order to assure their positions. The gov't have given them subsidies in the form of lower taxes to their land and protection by not opening the market to the world. The reason why we lost the auto industry in the first place. In the 70's and 80's, we produce 95% of cars here in Japan and exported them around the world. Now the balance was shifted and about half of the auto plants were relocated in different countries, leaving the workers scrambling to learn other skills in order to land a job. That was one of 'darkest stage' of Japans economy.

With the dwindling nos. of population of farmers due to old age and the increasing nos. of population in manufacturing and service sectors, I thinks it's due time to protect the majority.

A decision that should have been made 40 years ago.

2 ( +2 / -0 )

 They seem to forget that all the recent scandals and fraud involving faulty Japanese cars has severely damaged the reputation and popularity of Japanese cars. 

regarding Nissan that has more to do with management reather than faulty products. As for Toyota theyre expected to retain their position as #1 automaker in 2019 with over 10million cars sold, dont seem to be any faults with that. 2019 global car sales are expected to fall compared to 2018

1 ( +1 / -0 )

 They seem to forget that all the recent scandals and fraud involving faulty Japanese cars has severely damaged the reputation and popularity of Japanese cars. 

@wtfjapan - regarding Nissan that has more to do with management rather than faulty products. 

Where have you been for the last decade? Takata airbags continued to install their faulty airbags for a decade after became clear there was a problem, which resulted in 40 odd deaths worldwide. Suzuki, Subaru, Nissan are all guilty of falsifying fuel consumption statistics. Mitsubishi heavy lied about the safety of the brakes in their trucks for years. That's just a few off the top of my head.

0 ( +2 / -2 )

Japanese automakers, as well as US and European ones have all had their share of scandals and recalls. And while those who suffered from them may no longer support those car manufacturers, to date I have not seen any indication that the "reputations" of any of them have been harmed to the extent of having an effect on overall sales and demand by the general public. Car sales appear to be affected by other non-related economic factors.

2 ( +2 / -0 )

Some people can really dream.

0 ( +0 / -0 )

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