Japan calls Trump & # 39; s promise of a trade deal by August & # 39; hopeful thinking & # 39; hours after the US president said the negotiations would be corrected soon & # 39;
- The Japanese Economy Minister has worsened expectations at a cabinet meeting today
- & # 39; The president said he hopes for rapid progress in the talks, & # 39; said Mr. Motegi
- Trump had said during the state visit that a deal would be closed within a few months
Donald Trump & # 39; s promise of a trade deal with Japan by August was shot down by Japanese officials just a day after the US president made the comments.
On Monday, Trump indicated that the two countries are correcting their differences & # 39; fast & # 39; right and that a trade announcement would come within a few months.
Trump's optimism followed a meeting with Prime Minister Shinzo Abe during the President's four-day state visit.
But the Japanese minister of Economic Affairs has today canceled out expectations and describes Trump's words as wishful thinking.
President Donald Trump promised a trade agreement with Japan in August after a meeting on Monday with Japanese Prime Minister Shinzo Abe (shown together)
But the Japanese economy minister, Toshimitsu Motegi, lowered expectations and said that Trump & # 39; expressed his hope for rapid progress in conversations & # 39;
Toshimitsu Motegi told reporters during a cabinet meeting: & If you look at the exact wording of his remarks, you see that the president expressed his hope for rapid progress in the talks on something that would benefit both parties. & # 39;
Trump was in Japan to meet the new Japanese emperor Naruhito and to enter into an exchange agreement with the prime minister.
Washington and Tokyo talked for months about rates on cars and agricultural products.
Trump has repeatedly complained about the unequal trade balance between the two parties, especially in cars, and has threatened Japan and European car manufacturers with rates.
The US had a deficit of £ 67.6 billion in goods with Japan last year, according to the office of the US trade representative.
In April, exports from Japan to the US increased by almost 10 percent, while imports of American goods increased by 2.3 percent.
Trump has repeatedly complained about the imbalance in trade between the two parties – after it appeared that the US had a deficit of £ 67.6 billion in goods last year with Japan
Japan's trade surplus rose nearly 18 percent to 723 billion yen ($ 6.6 billion).
Imports from the United States are dominated by food, chemicals, machines and equipment.
The Trump administration has identified car imports as a threat to US national security, although the government has postponed a decision on raising the rates for imported cars for six months.
In addition to cars, Washington is also concerned that American agricultural products will not get a fair deal because Japan is forging trade agreements with Australia and Europe.
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