[CTC] Neal: Trump team planning push for Japan, UK bilaterals

[Arthur Stamoulis]

INSIDE US TRADE
 
Neal: Trump team planning push for Japan, UK bilaterals 

February 03, 2017 
President Trump and his top advisers yesterday told lawmakers the administration plans to initiate bilateral trade talks with Japan as well as the United Kingdom, according to a senior Ways & Means lawmaker.

Rep. Richard Neal (D-MA), the ranking member on the House Ways & Means panel, told Inside U.S. Trade that bilaterals with both countries were discussed at a White House meeting involving Ways & Means Chairman Kevin Brady (R-TX) as well as Senate Finance Committee Chairman Orrin Hatch (R-UT) and ranking member Ron Wyden (D-OR). Wilbur Ross, Trump's pick for Commerce secretary, also attended, as did other senior White House officials.

Hatch floated the idea <https://insidetrade.com/node/156584> of a bilateral deal with Japan shortly after Trump's election, suggesting it as an alternative to the Trans-Pacific Partnership.

Neal told Inside U.S. Trade that it will be “two years at least before you start on” negotiations with the UK because of the European Union's time table for the UK to exit the EU. Trump and UK Prime Minister Theresa May last week reiterated their commitment to a future U.S-UK deal and discussed the groundwork for such an agreement.

Asked about the Trump team's hope to move on a bilateral deal with the UK before the country has formally left the EU, Neal said “I think that there's probably an element of impatience that they're going to have.

“But we're not in charge of Brexit. I got the impression that there's a bit of a learning curve for everybody here” at the White House, he added.

Our Jenny Leonard has much more on the White House meeting here <https://insidetrade.com/node/157468>.

The Trump administration has told business leaders that a bilateral deal with Japan is a top priority that will be discussed next week in a meeting with Japanese Prime Minister Shinzo Abe, the Financial Times reported <https://www.ft.com/content/052cf600-e95b-11e6-893c-082c54a7f539> Friday.

Trump officials have told those executives they are “aware of the domestic political capital that Mr Abe invested” in the Trans-Pacific Partnership,” the story notes – adding that Trump's accusation this week that Japan is manipulating its currency won't make bilateral talks easy.

More from the Financial Times:

Wendy Cutler, who oversaw the US negotiations with Japan during the TPP, said the idea of bilateral deal “really puts Japan in a bind”, particularly as it would mean revisiting sensitive issues such as currency, agriculture and cars that were the subject of painful negotiations in the TPP.

"Abe spent a lot of political capital on TPP. The bilateral issue is new for [Japan],” she said. “If the US were to go forward and make requests in areas like currency . . . I think this could present real challenges for Japan and frankly for the bilateral relationship." ...

“It's certainly not impossible,” Mr Abe said of a bilateral deal last week. “We need to debate this focusing on what kind of economic relationship is best for the US and Japan.”
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