WASHINGTON (AP) — A House Democratic leader on trade policy says the time is right to press Japan on its closed markets as Japan formally joins the United States and 10 other Asia-Pacific nations in negotiations to create a major new trade bloc.
Rep. Sander Levin of Michigan, top Democrat on the Ways and Means Committee, proposed that the Trans-Pacific Partnership talks should include a link between the reduction of U.S. auto tariffs and the opening of Japan’s auto market. He said there should also be an enforceable way to stop countries from currency manipulation and that Japan should agree to removing non-tariff barriers that obstruct American auto exports.
Japan, Levin said in a speech to the Peterson Institute for International Economics, has “the most closed automotive market in the developed world.”
