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Top officials for the U.S. and Japan announced a trade pact Wednesday between the two nations. Americans for Prosperity (AFP) applauded the development and called on the administration to pursue trade liberalization more aggressively through multi-country deals such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
AFP Trade Policy Fellow Dan Pearson issued the following statement:
“Provided it is structured as an interim pact under international trade rules, we welcome this agreement to facilitate more trade between the U.S. and Japan. It gives U.S. farmers better market access, and Americans will benefit from lowering tariffs on Japanese goods. It also helps modernize digital trade rules to support the free flow of information.
“However, the administration should go bolder on free trade agreements, including those with multiple trade partners, like the CPTPP. This agreement with Japan comes nearly three years after the U.S. withdrawal from that broader pact, during which time farmers lost substantial sales in the Japanese market to competing supplies from other countries.”