Wednesday, December 4, 2019

China tariffs, and Japan will pay

Japan's parliament approved a trade pact with the U.S. that opens the country's markets to American beef and other agricultural products, as Tokyo tries to thwart a threat from Donald Trump to impose new tariffs on its lucrative car exports.

The deal cleared a last hurdle with approval from Japan's upper house on Wednesday. The U.S. has been pressing for the agreement to come into force by Jan. 1, which could help Trump land votes for his 2020 re-election campaign in agricultural areas that may benefit from the deal.

Prime Minister Shinzo Abe's ruling Liberal Democratic Party coalition holds majorities in both houses of parliament and was able to win passage easily. The deal has nevertheless been criticized by opposition lawmakers, who say it gives away bargaining chips without a written guarantee that Trump won't impose so-called national security tariffs as high as 25% on the country's auto sector.

[...]

Abe has said Trump assured him when they met in New York in September that he wouldn't impose fresh tariffs.

  alJazeera
What are you laughing about?

...but hey, do what you want...you will anyway.

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