WASHINGTON -- U.S. President Donald Trump expressed anew his desire to seek reductions in the U.S. trade deficit with Japan through bilateral negotiations, in talks with Prime Minister Shinzo Abe on Thursday.
Abe, for his part, stressed that Japanese companies have been contributing to the U.S. economy through investment and employment. The two leaders agreed that the first meeting under a new framework to discuss bilateral trade issues including investment will be held in July.
At a joint press conference after the meeting, Trump said: "The United States seeks a bilateral deal with Japan that is based on the principle of fairness and reciprocity. We're working hard to reduce our trade imbalance ... [and] remove barriers to U.S. exports."
As for automobiles, a primary reason for the U.S. trade deficit with Japan, Trump said, "We want new auto plants," urging Japanese automakers to expand their production in the United States.
Abe, however, did not comment on trade during the press conference.
According to sources accompanying Abe, the prime minister explained to Trump that Japan has been trying to correct the trade imbalance by purchasing defense equipment and energy products from the United States and sought the president's understanding. Abe did not touch on the restriction on steel and aluminum imports imposed by the United States, the sources said.
The talks under the new framework on "free, fair and reciprocal" (FFR) trade will be led by Toshimitsu Motegi, minister in charge of economic revitalization, and U.S. Trade Representative Robert Lighthizer.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
