Japan, U.S. to Strengthen Cooperation for IPEF
16:53 JST, April 20, 2023
TOKYO (Jiji Press) — Trade minister Yasutoshi Nishimura and U.S. Trade Representative Katherine Tai agreed on Wednesday to work more closely to achieve an agreement on the envisioned Indo-Pacific Economic Framework for Prosperity, or IPEF.
“I want Japan and the United States to lead efforts to establish robust supply chains among like-minded countries,” Nishimura said at the beginning of his meeting with Tai in Tokyo.
In the past two years, the two counties have worked closely on creating supply chains, sustainable trade and inclusive growth, Tai said.
Under the IPEF, an economic bloc of 14 countries including Japan and the United States, basic rules will be established in the four areas of trade, supply chains, clean economy, and tax and anticorruption in order to correct overdependence on the Chinese economy.
Tokyo and Washington aim to realize an agreement in at least one of the four before a meeting of trade ministers of the Asia-Pacific Economic Cooperation forum member economies in late May, which will be hosted by the United States.
The two countries hope to secure accords for all four by the time of the APEC summit in November.
Nishimura and Tai also discussed the failure of Nissan Motor Co.’s Leaf to qualify for U.S. tax credits for electric vehicles.
"Politics" POPULAR ARTICLE
-
Prime Minister Fumio Kishida Promotes Revised NISA Investment Program to Young People; Kishida Focusing on Moving Money From Savings to Investment in a Safe Environment
-
Chinese Ships Stay in Japanese Waters near Senkaku Islands for 2 Days
-
Japan, U.S. to Join Forces on AI, Semiconductors; Seek to Counter China’s ‘Military-Civil Fusion’
-
Japan, U.S. to Work Together for Expanding Marine Product Supply Chains; Countering China’s Economic Coercion
-
84% of People Nationwide Say They Feel Japan’s National Security Is Under Threat
JN ACCESS RANKING
- M6.0 Earthquake Hits Japan’s Tohoku Region; Fukushima, Iwate, Miyagi Prefectures Observe 4 on Japanese Scale With No Risk of Tsunami
- Cherry Blossoms Draw Crowd to Tokyo’s Ueno Park; Viewing Season Kicks Off to Slow Start
- China Mutes Memorialization of Reformer Hu Yaobang; Memories Could Spark Critique of Xi Administration
- Shinkansen Services Suspended After Man ‘Searches for Phone’ on Tracks; Disruption Affects About 14,000 Passengers
- Whaling Mother Ship Built in Japan for 1st Time in 73 Years