Japan and the U.S. are accelerating trade talks in hopes to reach a quick agreement. Japanese Prime Minister Shinzo Abe indicated the U.S. and Japan will speed up trade talks as Tokyo faces increased pressure to reach a deal in the next six months to avoid auto tariffs. However, Politico reports talks between the two likely won’t advance quickly until after Tokyo’s election in July. Trump, ending a summit and visit to Japan, says agriculture products are “heavily in play” in the talks, particularly U.S. beef.
Farmers in the U.S. are eager to see an agreement since Japan and other nations entered the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, after the U.S. left the then-called Trans-Pacific Partnership in 2017. Trump suggested an announcement on parts of an agreement could come sometime in August. Trade experts expect a deal to take longer, however, as the talks, focusing on automobiles and agriculture, will take more time than predicted by the U.S. and Japan.