Suga says Japan wants to promote free and fair trade for global economy

TOKYO (Reuters) – Japan’s top government spokesman said on Wednesday his government wants to promote rules that protect free and fair trade for the global economy.

Chief Cabinet Secretary Yoshihide Suga, speaking during a recording of a TV program at Japanese broadcaster BS11, said Japan is ready to explain its stance in trade negotiations with the United States.

Suga also warned that the global rules of trade could be compromised if all countries simply pursued their own interests.

The White House on Friday laid out objectives for trade talks with Japan as President Donald Trump’s administration seeks to slash the United States’ $69 billion trade deficit with the world’s third-biggest economy.

The United States is aiming to secure duty-free market access for American industrial products and reduce or eliminate tariffs for U.S. agricultural goods, according to a statement.

Washington is also seeking more equitable trade in the motor vehicle sector and will try to “ensure that Japan avoids manipulating exchange rates in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage,” the document said.

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