Financial Times Quotes Clete Willems on Prospects for US-Japan Trade Deal

Akin Gump public law and policy partner Clete Willems has been quoted in the Financial Times article “US and Japan in race to finalize partial trade deal.” A new agreement between Washington and Tokyo, the article reports, could be finalized as early as next month.

According to the article, the agreement being discussed would fall short of a comprehensive trade deal, but would call for Japan further opening up its agricultural market to American goods in exchange for some cuts to U.S. industrial tariffs. Japan is also expecting some form of exemption from possible tariffs on automotive imports, the article says, that President Trump has threatened to impose on national security grounds later this year.

The talks are taking place just prior to the G7 summit in France, where, as the FT notes, Mr. Trump and Japanese Prime Minister Shinzo Abe could give their blessing to an accord with the goal of completing it at the United Nations General Assembly (UNGA) meetings next month.

“The leaders get along well, they both have a lot to gain in terms of trade, and it’s critical to the administration to start banking trade wins with key allies like Japan,” said Willems, who served as a senior trade negotiator in the Trump administration before joining Akin Gump earlier this year (click here to learn more).

“However, I’d temper enthusiasm for a big announcement this week or at the G7,” Willems added. “These things take time and a deal late next month at UNGA is probably the shortest they could get it done.”