- In spite of early White House Signs The proposal of a trade agreement with Japan was imminent, the negotiations ended in Washington, DC, without an agreement, which highlighted Japan’s ongoing concerns and hesitation to waive the local elections. The conflicting messages of American officials and resistance from global partners such as China indicate that bilateral trade talks will be lengthy, which doubts the goal of President Trump “90 deals in 90 days.”
During the weeks before a visit from the chief trading negotiator in Japan, the White House dropped hints that were closed in a deal.
In fact, speculation was widespread that the visitor from Tokyo might secure even the “first engine” feature that Treasury Secretary Scott Payet described: winning useful conditions as a faster country to agree to an agreement with the Trump administration.
However, Riosi Akazawa, Minister of Economic Activation in Japan, has returned to the home without an agreement in place Local media He urged the Americans to reconsider “Very unfortunate” work.
Moreover, the Japanese Prime Minister He only said yesterday He still has “serious concerns” about some policies announced by the Oval Office.
In addition, when Bessent meets with Japanese Finance Minister Katsunobu Kato in Washington, DC, this week, the issue of enhancing the yen for discussion is scheduled to come. The request is likely to be rejected, The sources told Reuters.
Unlike the White House message
Such resistance from Tokyo is in contrast With a message coming out of the White HouseWith President Trump saying “Great progress” Talks were held with Japan.
Likewise, the Minister of Commerce Howard Lootnick Trump said, “The driver’s seat is completely” when it comes to customs tariff negotiations, and that meetings with more than 75 countries are trying to cut the deal “back back.”
Conflicting messages lead analysts to ask about the realism of Trump “90 deals in 90 days” The pledge will be proven.
Investors lose confidence in US dollars this week Specifically because of this fearThierry Wizamman and Gareth Perry wrote the prices of strategists in Makari, in a note seen by luck.
The duo said: “Many observers, including ourselves, have indicated to Japan as an early test issue for an early deal.” However, bilateral negotiations between the United States and Japan ended without the features of a deal in its place late last week.
“It is not clear what issues remain as stumbling blocks – the demands of the United States to reach the agricultural markets in Japan, the Japanese yen, or the higher military spending in Japan, or the purchases of liquefied natural gas (LNG), etc.
A long and interrupted operation
Although America, the largest economy in the world, may pressure its allies towards a deal, there is other pressure Forming the global response to the Trump administration.
It is worth noting that China warned yesterday that any country working against its interests will be punished.
The United States is specifically, after a series of definitions increased to China to a rise of 145 % on imports from the nation. Therefore, to sign a deal with the United States, it can put any nation at the mercy of revenge from Beijing.
“China strongly opposes any party that reached a deal at the expense of China’s interests,” A spokesman for the Chinese Ministry of Commerce said yesterday. “If this happens, China will never accept it and will take counter measures.”
Likewise, Macquarie analysts cite internal pressure on political leaders as a reason for not signing the dotted line.
“What is getting worse is that the Japanese Prime Minister … faces elections in the Senate on July 20 (especially, after the end of the 90 -day tariff). This may force him to avoid avoiding synchronization of the United States, until the elections end.”
“In any case, the events surrounding the American and Japan negotiations at late last week indicate that there will be at least a long period of bilateral negotiations between the United States and all its two bilateral partners who may extend to July, which extends to uncertainty about the readiness of both sides to provide bilateral accessories.”
Investors may be naively optimistic that the giant’s work to reach a deal will occur almost overnight. Now, “Berry and Wizman” may be wise for markets to settle in the long run: “Commercial partners in the United States may try to run the watch on Trump, believing that concessions from the United States will be easier with deepening the United States’s slowdown. This process, we expect, will be installed,” says Berry and Wizman.
This story was originally shown on Fortune.com
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