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Japanese PM says no quick compromise with US on Trans-Pacific trade bloc

March 27, 2015, 11:09 UTC+3 TOKYO
Tokyo insists on its right to preserve the tariffs on rice and other grains, dairy products, beef and pork, while the US seeks to keep restrictions on imports of certain Japanese industrial products
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Japanese Prime Minister Shinzo Abe

Japanese Prime Minister Shinzo Abe

© EPA/FRANCK ROBICHON

TOKYO, March 27. /TASS/. Japanese Prime Minister Shinzo Abe has rejected the possibility of reaching a swift compromise during the tough negotiations with Washington on establishing a multilateral trade bloc designed to remove tariffs and other barriers.

Abe told the country’s parliament on Friday that he is not planning to speed up the talks on the Trans-Pacific Partnership (TPP) amid his upcoming visit to Washington in April.

At talks with the US, Tokyo insists on its right to preserve the tariffs on rice and other grains, and also dairy products, beef and pork. Washington seeks to keep temporary restrictions on imports of certain Japanese industrial products.

The Trans-Pacific Partnership is a proposed regional treaty aimed at eliminating tariffs and other barriers on goods and services between the member-states. The talks on the TPP initially involved Chile, New Zealand, Brunei and Singapore.

The United States, Japan, Australia, Vietnam, Malaysia, Mexico and Peru later joined the negotiations. If created, the TTP would cover 40% of world GDP and around one third of global trade.

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