politics

Japan, U.S. seek to sign 'very big' trade deal in September

48 Comments
By Noriyuki Suzuki

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48 Comments
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Why is it I feel like Trump is lying through his teeth every time he makes an announcement about some trade deal?

10 ( +16 / -6 )

"We still have some remaining work that has to be done at the working level, namely finalizing the wording of the trade agreement and also finalizing the content of the agreement itself," Abe said.

so it's complete except for everything? (⌒▽⌒)

15 ( +17 / -2 )

Why is it I feel like Trump is lying through his teeth every time he makes an announcement about some trade deal?

Thats because Trump lies about everything.

10 ( +15 / -5 )

Will this pact have secret sections like the TPP? What has Japan ceeded?

6 ( +7 / -1 )

@thepersonianmnow

Will this pact have secret sections like the TPP?

This is not a formal binding pact. It is merely an MOU where each party lists what they would do.

Japan : Buys a bunch of agricultural product originally meant for China but is now rotting in US silos. They get to rot in Japanese silos instead, or Japan donates to third world countries.

US : The US side is empty. The US buys nothing new from Japan.

3 ( +8 / -5 )

@samit Basu

This look exactly that.

Is this that “big” like Trump says?

-1 ( +1 / -2 )

Japan's leading export industry, the automobile sector, isn't exactly thrilled and I can understand why. trump could easily add a mark up on the autos and parts tariff, and I haven't seen anything that indicates otherwise. The ol' bait and switch game...don't smile too long Abe. BTW, what are you going to do with all that corn abe?

2 ( +3 / -1 )

Abe: "Please, Trump-kami, look into my eyes just once. Kami-sama, onegai."

-1 ( +6 / -7 )

How long must this snake oil salesman continue to fleece the masses? 

At least until January of 2021! Hopefully from November of 2020 he will become a lame-duck.

1 ( +3 / -2 )

There have been mixed reports about this trade deal and the dates seem to keep getting pushed further and further back.

0 ( +1 / -1 )

GMO Corn ?

1 ( +2 / -1 )

Abe: "Please, Trump-kami, look into my eyes just once. Kami-sama, onegai."

Wondering how you got that interpretation seeing that the basic framework agreement is essentially TPP standards which Trump withdrew because he wanted to destroy Obama’s legacy. During that time, Japan essentially were setting tariff schedule on ag products against Australia and Canada. As a result, U.S. ag producers were ticked off because their original tariff was in place while the signatories of TPP were importing based on their newly agreed tariff schedule.

Besides, it’s Trump that wanted this deal done in the first place hence the quick agreement on the above last year even issuing a joint statement. Trump needs it more now ASAP because of the continued trade dispute with China.

0 ( +3 / -3 )

"The bilateral agreement would see Japan's 38.5 percent tariff on U.S. beef imports lowered in stages to 9 percent"

I guess I will be able to buy cheap beef without worrying much about money. It's a win for me.

0 ( +0 / -0 )

It looks like Abe won about trade deal. Actually Trump won it this time but doesn't look happy.

-2 ( +1 / -3 )

Abe is the second longest serving PM. Obviously, he knows how to keep his job.

-6 ( +0 / -6 )

Crazy... the Japanese consumer will see 'zero' benefits from an open market. This seems to be a move to bring down the imbalance in trade, nothing else. Trumps farmers will be happy, the politics will rejoice about the lowering and that's it on the American side. As for Japan, the wealthy will be protected and sales of Toyota's, and other consumer crap will continue. The tax payers will buy the corn or other food items that will 'never' be brought to market which will keep food prices and profit margins criminally high.

You want to buy a Japanese product cheap, buy it anywhere but Japan. This I'm afraid is an absolute fact.

6 ( +8 / -2 )

I'm laughing at the guys saying the corn is worthless both ethanol fuel and plastics are made from corn. There are 20+ products made from corn or the plant itself. You can make whisky, spark plugs, pharmaceuticals, drywall, pesticides, paint, toothpaste, shampoo, paper, tires, syrup. That is just a short list. That corns going to be used for something even if they don't eat it. We already had a ton of bioengineered corn that the media thought was just going to be used for nothing sitting on the docks when people started learning that food is engineered. I can guarantee you the only way it would goto waste is if the greedy or uneducated just let it go.

-3 ( +4 / -7 )

"We still have some remaining work that has to be done at the working level, namely finalizing the wording of the trade agreement and also finalizing the content of the agreement itself," Abe said.

He will get the article 9 revision done with Trumps approval in return for Abe buying surplus agri stock (a kind of subsidizing US farmers) How he deals with the farmers in Japan and their gravy train scheme of winter subsidies, who knows; most of what they produce is overpriced crap anyway. Might offset the China trade war for some time. Good for Trump, but nothing is free when if comes to Japan. No access to Japans market for US auto makers for starters. I think this is part of the new Trump administrations bi lateral trade deals instead of the more blanket TPP . Seems to be effective.

-3 ( +1 / -4 )

As for corn. Some posters are underestimating how popular corn is in Japan. it is very popular at matsuri, it is a Japanese tradition to eat it on a stick with butter. It will all be consumed in Japan, and not made into fuels or materials as some posters are strangely guessing. This is better outcome than Japan being forced to import many big, gas guzzling US autos, which was going to be the result until this corn deal was finalized.

-13 ( +2 / -15 )

good job abe and trump. next would be for japan to decouple gradually from china. japan can't protect its national security if it remains sucked into the chinese market. it's like smoking opium there. look at the sad case of cathay pacific kneeling down before the chinese government for being so "successful" in china. same with hsbc.

0 ( +3 / -3 )

“”Two sly characters outfoxing each other” they say in Japanese that proverb 「 Kitsuneto tanukino bakashiai」Those two: a raccoon dog and a fox playing dirty ways to deceive the other. Can you imagine who is who to those?

2 ( +5 / -3 )

@Ganbare Japan

Some posters are underestimating how popular corn is in Japan. it is very popular at matsuri, it is a Japanese tradition to eat it on a stick with butter.

I'm thinking it's not going to arrive fresh on the cob.

Far more likely for animal feed or ethanol.

Although it may be the right time to invest in Tortilla futures or a Mexican restaurant chain.

This is what you call fritosonomic.

2 ( +4 / -2 )

There are 20+ products made from corn or the plant itself.

.... all of which add value to the product, so could the USA make those products themselves and export the

whisky, spark plugs, pharmaceuticals, drywall, pesticides, paint, toothpaste, shampoo, paper, tires, syrup, 

thereby creating US jobs and income?

0 ( +2 / -2 )

Is Trump pathologically incapable of taking a good photo? He looks like he's gambled and lost on a f@rt in this one.

1 ( +3 / -2 )

Why is it I feel like Trump is lying through his teeth every time he makes an announcement about some trade deal?

Your hatred for the man?

so it's complete except for everything?

Patience, Grasshopper, patience.

How long must this snake oil salesman continue to fleece the masses? 

At least until January of 2021! Hopefully from November of 2020 he will become a lame-duck.

You're going to be sorely disappointed.

Is Trump pathologically incapable of taking a good photo?

No, AP is.

-2 ( +4 / -6 )

Taking Trump at his word is always a mistake, because he never keeps his word.

1 ( +3 / -2 )

After seeing his disastrous trade war with China, one even he is having "second thoughts" about, the Dimwit needed to show some trade accomplishment, so he caved to Abe on numerous issues just so he could get a signed deal...which isn't signed yet.... And given Donnie's recent series of huge flip-flops, Abe better keep his fingers crossed....

It could all go south if Donnie wakes up one morning and hears something different from one of the many voices in his head...

Or if one of the idiots on Fox and Friends or "Satan Sean" Hannity tell him to do something different...

2 ( +4 / -2 )

@justmythoughts

Crazy... the Japanese consumer will see 'zero' benefits from an open market. This seems to be a move to bring down the imbalance in trade, nothing else

Perhaps it's intended to fix the trade imbalance, BUT, mostly it's done through the removal of tariffs, which ultimately will be good for consumers, because with added pressure, other countries will lower their prices to compete against tariff free suppliers (eg USA), then USA will respond in kind, until...

Removing tariffs also bring down fixed costs such as customs clearance.

With my work, when we move equipments accross borders it's always easier when there's no tariffs.

I think IF, the bureaucrats don't f-it up, it could be win win. Though, these things have a way of going pear shape, purely because both Japan and USA trade with other nations well, and tgey sure don't want to loose out.

-1 ( +0 / -1 )

@Samit Basu

no body is forced to buy anything. The agreements simply implies tariffs will be removed for certain US products, whilst tariffs won't be removed on auto products from Japan. Big deal, Japanese auto makers have production facilities in USA anyway.

0 ( +0 / -0 )

Wouldn't you think it's more likely that the flaw in the composition arises from having a very overweight man with a spray tan, preposterous hair and a badly-fitting suit in the frame?

TDS is strong with this one.

-2 ( +0 / -2 )

Japan will buy excess corn from the United States.

With whose money?

-1 ( +0 / -1 )

Japan will buy excess corn from the United States

So in addition to the 'contains no GMO soya' on packets of tofu and bottles of soy sauce, we're now going to get English muffins with 'contains no GMO corn' labels? Is all Japanese processed food going to be drenched in high-fructose corn syrup?

Invalid CSRF

0 ( +1 / -1 )

Looking forward to buying my next Corvette- thanks Don!

0 ( +1 / -1 )

With whose money?

Private sector.

“Shinzo Abe gently contradicted Trump remark that Abe is buying all the corn. Abe: private sector will, not govt.

Trump then gently contradicted Abe with jab at US business.

"Japanese private sector listens to the Japanese public sector. It’s a little different in my country.”

It’s essentially a show by Trump to appease his followers and nothing more. The amount that Japanese private sector will buy is “excess” but the U.S. government has already bought that as a fix measure. Most likely, Abe would waive the tariffs to the Japanese importers(Private sectors) to get this done. The Chicago corn futures hasn’t moved (price and volume) that much so this is insignificant in terms of numbers.

On a footnote, Japan is the biggest importer of corn in the entire world.

1 ( +2 / -1 )

Trump looks like somebody inserted a fork in his rear... Not too happy about very big trade deal...

-2 ( +0 / -2 )

So in addition to the 'contains no GMO soya' on packets of tofu and bottles of soy sauce, we're now going to get English muffins with 'contains no GMO corn' labels? Is all Japanese processed food going to be drenched in high-fructose corn syrup?

Cleo. I’m afraid Japan and it’s food manufacturers have been importing and processing GMO corn since it’s inception. (Cooking oil, corn syrup, feed)

Soy ingredient dominant products, on the other hand, are different due to labeling protocols.

-1 ( +0 / -1 )

Muffins are made from flat yeast-leavened bread? Make my own.

Japan's corn crop has been damaged by insect pests so additional supply is needed.

The officials say Japanese companies will buy another two-and-a-half million tons of corn for animal feed. That's about 25% of what Japan typically imports from the US in a year.

The additional imports will start from September. Japan already buys more than 90 percent of its corn from the US.

Japan imports 16 million MT of corn every year.

0 ( +0 / -0 )

By 2013, Japan has approved eight GM food and feed crops for human consumption and animal feeding purposes (Council of Biotechnology Information Japan, 2013; MAFF, 2013; MHLW, 2013). These are soybeans, sugar beet, corn, canola, cotton, alfalfa, potatoes, and papaya. All GMOs have been tested through approval processes 

http://www.agbioforum.org/v16n2/v16n2a05-ebata.htm

0 ( +0 / -0 )

Japan and it’s food manufacturers have been importing and processing GMO corn since it’s inception. (Cooking oil, corn syrup, feed)

from zichi's link:

*Under the Japanese labeling regulation, there are three types of GMO labels. Products can be labeled as “*genetically modified,” “genetically modified organisms not segregated*,” or “not genetically modified.” **The **first two labeling options are mandatory if GMOs are included in the final products while the last option is voluntary*.

I find this very strange. When I go shopping I see labels on soy sauce, tofu, miso, cooking oil, potato products, etc., that say 'Does not contain GMO items' - those are the ones I buy. Just recently my Coop delivery service has started voluntarily, at the request of customers, including indications in its catalogue of processed goods that do contain GMOs, (apparently it's becoming more and more difficult to offer a full range of non-GMO stuff) but I have never seen such labelling in supermarkets.

Invalid CSRF

0 ( +0 / -0 )

nigelboy: "Wondering how you got that interpretation"

Because when Trump says "jump" to Abe he's already nipping at the man's heels and begging for a treat. I've never seen a leader in my life bend over backwards more for the slightest bit of attention from another. And the funny part is some people think Abe is strong -- he is not. Has sold out Japan for the idiot Trump, how knows so well he can just walk all over Abe that he doesn't respect him in the least. He can't even make eye-contact with him, and when Abe was lying down after a face plant in a sand trap at golf, Trump didn't notice because he was off making conversation with Matsuyama.

https://www.youtube.com/watch?v=ZaAHT83XC2s

Trump may be a moron, but wow does Abe make him look like an actual dealmaker. Now our tax increase has been ensured because Abe was SO eager to appeal to Trump he bought all the fighter jets demanded of him.

2 ( +2 / -0 )

Truth be told Americans love Japanese cars. When we drive we could be hundreds of miles from a city or any help. You definitely want a car that will reliably start and go every single time.

2 ( +2 / -0 )

nigelboyToday  08:48 am JST

Abe: "Please, Trump-kami, look into my eyes just once. Kami-sama, onegai."

Wondering how you got that interpretation...

Maybe something to do with that idiotic simpering smile on Abe's face. The press seem to have a knack for getting these photos with Abe looking at Trump like he's just pulled him out of a burning building, while Trump looks like he can get grovellers like this for a dime a dozen.

0 ( +1 / -1 )

Why cant politicians be straightforward? Abe, just tell Trump no one is stopping GM, Ford etc from selling their cars in Japan. Look at the Germans. Just open ur damn shops here. And remember to do as others do. Benz will come pick my car from home for shaken. Toyota will leave a temporal replacement car. Mazda sends seasonal greetings like small towels.

1 ( +1 / -0 )

Trump looks like somebody inserted a fork in his rear... Not too happy about very big trade deal...

This is AP's choice of photo of the hundreds they took. Trump can't help it if he's not smiling every second, lol.

0 ( +0 / -0 )

Because when Trump says "jump" to Abe he's already nipping at the man's heels and begging for a treat. I've never seen a leader in my life bend over backwards more for the slightest bit of attention from another. And the funny part is some people think Abe is strong -- he is not. Has sold out Japan for the idiot Trump, how knows so well he can just walk all over Abe that he doesn't respect him in the least. He can't even make eye-contact with him, and when Abe was lying down after a face plant in a sand trap at golf, Trump didn't notice because he was off making conversation with Matsuyama.

In other words, your judgment is based on appearance rather than actual substance. Sort of like those gullible Trump voters who voted for him and will vote for him in the next election.

Trump may be a moron, but wow does Abe make him look like an actual dealmaker. Now our tax increase has been ensured because Abe was SO eager to appeal to Trump he bought all the fighter jets demanded of him.

I guess it helps that Trump makes it as though it's a "very big" trade deal with his press conference and tweets but the reality is that it ended up being TPP type parameters. But I guess to some people, details don't matter for it's the "appearance" that's important, much like the Trump supporters.

As to the "bought all the fighter jets", this was already pretty much decided in December of 2013 in their Medium Term Defense Program where they wanted to replace the F-15 which was considered unsuitable for modernization. But hey. Who cares about relevant background and facts? It's how you present it that's most important to Trump because he knows that the voters are gullible. Didn't expect it would work on non-American posters here though.

0 ( +0 / -0 )

I bet Japan is doing this trade deal just to piss off China, though actually it's also good for Japan.

0 ( +0 / -0 )

Japan has a good opportunity to revitalize its manufacturing industry as a reliable trade partner with the US that also respects IP rights.

0 ( +0 / -0 )

It appears that some people think the corn being discussed is the kind of corn eaten by humans.  That is not the case-- the corn is field corn-- hard kernels that are fed to animals.  It is all GMO.  It does serve the purpose for making ethanol fuel and a few other things, but that's about it.

0 ( +0 / -0 )

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